Product Market Competition， Managerial Incentives and Firm Performance： Theory and Evidence
TAN Yun-qing1，2，LIU Zhi-gang3，ZHU Rong-lin2
(1．Antai College of Economics ＆ Management, Shanghai Jiaotong University, Shanghai 200052， China； 2.School of Business and Administration, Shanghai Lixin University of Commerce, Shanghai 201620， China；3.Continuing Education College, Shanghai Jiaotong University, Shanghai 200030， China)
Abstract：This paper analyzed the relationship among product market competition, managerial incentives and firm performance by both the Hotelling model and evidence from China’s listed companies.The results show that product market competition and managerial incentives can improve the firm’s operating performance， and the existence of complementarities between product market competition and managerial incentives.
