Salary Incentives, Corporate Risk Exposure and Financial Investment: Based on the Empirical Data of China's A-share Listed Companies

摘要

This paper selects A-share listed companies (non-financial industries) from 2010 to 2017 as a sample, and uses multiple linear regression models to empirically analyze the relationship between management compensation incentives, corporate risk-taking and corporate financial investment, and the paper also analyzes the mediating effect of enterprise risk taking between salary incentives and financial investment. The research results show that: management compensation incentives and corporate financial investment are positively related; management compensation incentives are significantly positively related to corporate risk exposure; risk exposure plays a partial intermediary role between management compensation incentives and corporate financial investment, namely management, and the impact of compensation incentives on corporate financial investment is partly achieved through risk exposure.