The Differential Moderating Effect of Executive Compensation on Innovation Investment and Cash Holding Value in China

In the context of technological innovation promoting long-term sustainable development enterprises, how to better motivate senior executives create greater value for an enterprise is being widely discussed. particular, COVID-19 outbreak has raised concerns about whether companies can deliver more by holding large amounts cash. However, although scholars have conducted a lot research on topics such as and firm value, differentiated executive compensation incentives regulate relationship between cash holdings hardly been explored. This paper selects balanced panel data 1470 A-share listed from 2012 2020 in China explore investment, compensation, holdings. It found that investment positive impact Based Herzberg’s hygiene motivational factors, different types may effect or effect, which different. As result, moderating are significantly Executive equity in-service consumption attributes. They The monetary changes with change compensation. When lower than threshold reflected attribute, so it no significant higher Meanwhile, tested not manipulated defense behavior when