Innovation is the driving force for enhancing the competitiveness of enterprises and countries, therefore, finding the factors that stimulate enterprise innovation is the most important. This article uses the data of the input in R&D and invention patent output of listed companies during 2008—2015 to examine the impact of three different types of incentives, such as government innovation planning implementation pressure, government subsidies and corporate executive shareholding plans, on corporate innovation. The results show that government subsidies and corporate executive shareholding plans have a more significant impact on corporate R&D investment and patent output, that the status of corporate property rights, corporate governance and executive innovation spirit have a significant effect on the incentives. Based on the above conclusions, this paper proposes relevant policy recommendations for government and enterprise innovation incentive.