Research Article
Could Executive Compensation Incentive Enhance the Efficiency of Enterprise Resource Allocation? An Empirical Study from China
| | Variables | Model (1) one-period lagged | Model (2) one-period lagged | Model (3) one-period lagged | Model (4) calculating Y with OP |
| | Pay | 0.0286 (3.28) | 0.0516 (6.49) | | | | Stock | 0.0006 (0.72) | | 0.0015 (1.94) | | | Consumption | 2.8206 (6.23) | | | 103.8424 (36.06) | | Consumption2 | | | | −915.3887 (−19.255) | | Control variables | Control | Control | Control | Control | | Constant term | −0.5299 (−3.88) | −0.8997 (−7.04) | −0.2945 (−3.52) | 18.2599 (86.95) | | F | 10.74 | 9.13 | 5.88 | 550.45 | | Adjusted R2 | 0.0392 | 0.0284 | 0.0172 | 0.6330 | | Sample size | 3345 | 3345 | 3345 | 4460 |
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, , and indicate that the variable is significant at the significance level of 10%, 5%, and 1%, respectively, and the t value is in parentheses. |