创新在企业核心竞争力的提升中起着举足轻重的作用，对于中国这一制造大 国更是如此。近年来，创新驱动发展战略、“大众创业、万众创新”、“制造 2025” 等系列国家战略标志着我国向制造强国迈进的步伐和决心，但是在向创新型国家 转变的过程中，制造业企业仍存在薪酬管理严重落后的情况，如何设计合理的薪 酬契约机制，促进企业创新竞争力的提升和创新经济发展，成为一个关键问题。 面对我国复杂的经济环境，虽然学术界关于高管薪酬与创新做了许多有益的探索， 但是创新是全员参与的过程，目前对企业高管、普通员工薪酬体系完善与创新的 研究较为分散，并且对于不同生命周期阶段动态情景的关注不足。 鉴于此，本文以 2012-2016 年中国创业板制造业上市公司为研究样本，以委 托代理理论、锦标赛理论和行为理论、企业生命周期理论为基础，区别了高管和 普通员工，从创新产出的角度实证检验了员工薪酬、薪酬差距对企业创新绩效的 影响，并基于企业生命周期动态视角深入探究了员工薪酬、薪酬差距对创新绩效 的差异性调节效应，主要结论如下：（1）员工薪酬对创新绩效有显著正向影响， 表现为高管货币薪酬、高管权益薪酬、普通员工薪酬对创新绩效有正向促进作用； （2）高管内部薪酬差距对创新绩效有显著正向影响；（3）普通员工-高管薪酬差 距对创新绩效有显著负向影响；（4）在企业生命周期分组回归下，随着生命周期 阶段的交替，高管货币薪酬与创新绩效的促进作用呈下降型趋势；高管权益薪酬 对创新绩效提升呈倒 U 型影响；普通员工薪酬对创新绩效的促进作用呈下降型 趋势；高管内部薪酬差距对创新绩效的促进作用呈下降型趋势；普通员工-高管 薪酬差距对创新绩效的影响没有显著变化。 本研究在理论上丰富了员工薪酬、薪酬差距对创新绩效影响因素的研究，拓 宽了薪酬与创新绩效的动态研究视角；在实践上，以创业板制造业行业为研究样 本，将制造业企业划分不同生命周期阶段，结合企业自身生命周期特征增强员工 薪酬、薪酬差距对企业创新绩效激励效能，为公司内部薪酬体系优化提供借鉴和 启示，为政府相关政策的制定提供一定的参考，进而推进企业创新战略和转型升 级。 关键词：员工薪酬；薪酬差距；创新绩效；企业生命周期II Abstract Innovation plays an important role in enhancing the core competitiveness of enterprises, especially for China, a large manufacturing country. In recent years, a series of national strategies, such as innovation-driven development strategy, mass entrepreneurship, mass innovation and manufacturing 2025, have highlighted the pace and determination of our country to become a powerful manufacturing country. However, in the process of transforming to an innovative country, there are still serious backward salary management in manufacturing enterprises. How to design a reasonable compensation contract mechanism to promote the innovation competitiveness of enterprises has become a key issue. Faced with the complex economic environment in China, although the academic circles have made many useful explorations on executive compensation and innovation, innovation is the process of participation of all employees. At present, researches on the improvement and innovation of the compensation system for senior executives and ordinary employees are scattered, and insufficient attention has been paid to the dynamic scenarios in different life cycle stages. In view of this, this paper takes China's GEM manufacturing listed companies from 2012 to 2016 as the research sample. Based on principal-agent theory, Championship theory, behavioral theory and life cycle theory, this paper differentiates senior managers and ordinary employees, and empirically examines the impact of employee pay and pay gap on enterprise innovation performance from the perspective of innovation output. Based on the dynamic perspective of enterprise life cycle, this paper deeply explores the differential adjustment effect of employee compensation and salary gap on innovation performance. The main conclusions are as follows: (1) Executives' monetary remuneration and executive equity remuneration are positively correlated with innovation performance; executive internal remuneration gap is positively correlated with financial innovation performance; executive internal remuneration gap has no significant impact on technological innovation performance; executive-employee remuneration gap is negatively correlated with technological innovation performance; executive-employee remuneration gap has no significant impact on financial innovation performance. (2) Under the grouping regression of innovation input, the higher the innovation input, the greater the effect of executive monetary compensation on financial innovation performance. The higher the innovation investment, the greater the promotion effect of executive compensation on innovation performance. The lower the innovation investment, the greater the promotion effect of internal compensation on financial innovation performance; theIII lower the innovation investment, the greater the negative impact of executive-employee compensation on technological innovation performance. (3) Under the grouping regression of enterprise life cycle, the monetary remuneration and equity remuneration of executives have inverted U-shaped effects on the performance of technological innovation; the pay gap between executives and employees has inverted U-shaped effects on the performance of financial innovation; and the promotion effects of monetary remuneration, equity remuneration of executives, internal remuneration gap of executives and financial innovation performance show a downward trend. On the theoretical level, this study enriches the research on the influencing factors of employee's salary and salary gap on innovation performance, and broadens the dynamic research perspective of salary and innovation performance. This study divides manufacturing enterprises into different life cycle stages, combines the characteristics of their own life cycle, and enhances the incentive effectiveness of employee's salary and salary gap on innovation performance of enterprises, so as to provide reference and Enlightenment for the optimization of internal salary system of enterprises. Moreover, the paper can also provide some reference for formulation of relevant government policies, and promote the innovation strategy, transformation and upgrading of enterprises. Keywords: employee compensation; salary gap; innovation performance; enterprise life cycleIV 目录 摘要........................................................................................................................ I Abstract................................................................................................................II 第一章 绪论..........................................................................................................1 1.1 研究背景..................................................................................................1 1.2 研究目的与意义......................................................................................2 1.2.1 研究目的.......................................................................................2 1.2.2 研究意义.......................................................................................2 1.3 研究内容、技术路线及方法..................................................................3 1.3.1 研究内容.......................................................................................3 1.3.2 研究的技术路线...........................................................................4 1.3.3 研究方法.......................................................................................4 1.4 研究的主要创新点..................................................................................5 1.5 本章小结..................................................................................................5 第二章 理论基础与文献综述..............................................................................6 2.1 变量概念界定..........................................................................................6 2.1.1 员工与员工薪酬...........................................................................6 2.1.2 薪酬差距.......................................................................................7 2.1.3 企业生命周期阶段..................................