CSR Performance, Executive Compensation Incentive and Innovation Investment of Chinese Private Enterprises under Dynamic Perspective

Table 1

Classification standard of enterprise life cycle.

This article on business lifecycle segmentation	Growth period		Maturity period			Recession period
Dickinson Enterprise Lifecycle Segmentation	Start-up period	Growth period	Maturing period	Turbulent period	Turbulent period	Turbulent period	Recession period	Recession period
Net cash flow from operating activities	-	+	+	-	+	+	-	-
Net cash flow from investing activities	-	-	-	-	+	+	+	+
Net cash flow from financing activities	+	+	-	-	+	-	+	-