Management myopia and corporate innovation in China: Focus on the moderating role of equity incentives
研究2010-2022年中国A股上市公司发现，管理短视抑制企业创新，而股权激励能缓解这种抑制，市场竞争则促进创新，且对非国有企业影响更显著。
This study selected a sample of A-listed companies on the Shanghai and Shenzhen stock exchanges from 2010 to 2022 to examine the relationship between management myopia and corporate innovation. The findings are as follows. First, management myopia has an inhibiting effect on corporate innovation, whereas market competition significantly enhances such innovation. Second, equity incentives can alleviate the inhibiting effect of management myopia on corporate innovation by motivating managers to focus more on long-term development and innovation investments. Third, market competition has different impacts on innovation of companies with different levels of ownership. In this regard, its impact on companies with high equity concentration is more significant. Finally, market competition has different impacts on the innovation of state-owned and private enterprises, with a more significant impact on the latter.