Abstract
Taking listed petroleum and petrochemical companies from 2013 to 2021 as samples, this paper empirically examines the impact of stickiness of executive compensation on the value of petroleum and petrochemical enterprises and its influence path. The results show that the stickiness of executive compensation has a positive effect on the value of petroleum and petrochemical enterprises. The stickiness of executive compensation helps to improve the resource utilization rate of petroleum and petrochemical enterprises. Resource utilization plays a partial mediating role on the main effect, and there is an influence path of "stickiness of executive compensation - resource utilization - enterprise value". Equity incentive plays a significant moderating role. The gradual improvement of equity incentive contract will weaken the positive promoting effect of stickiness of executive compensation on the value improvement of petroleum and petrochemical enterprises.
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