作为企业价值的重要决定因素之一,投资水平直接影响着企业的经营业绩和发展前景,因此企业对高管的投资决策能力和意愿提出了很高的要求.为了提高投资水平和降低代理成本,企业对高管实施股权激励是非常必要的,这在高科技行业中尤为明显.我们选取了2006年至2010年我国实施股权激励的高科技上市公司作为研究对象,探讨了高管实施股权激励对企业投资水平的影响情况,得出了高管股权激励对企业投资水平存在正向影响的结论.%As one of the important determinants of enterprise value, the level of investment directly affects the business performance and development prospects. High demands of investment decision — making ability and willingness are imposed on business executives. In order to improve the level of investment and reduce agency costs, equity incentive for business executive is necessary, which is particularly evident in the high tech industry. We selected domestic high - tech companies which had implemented equity incentives in 2006 -2010 as research objects, discussed the situation of the executive equity incentive effect on the level of business investment, and concluded that there is positive corelation between them.
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