Abstract: In order to improve the research and development teams’ incentive mechanism， value creation was taken as performance standard and research and development teams’ incentive mechanism was studied on the premise of maximization for overall efficiency including individual task output， team task output and management task output. On the basis of the traditional conclusions， it is found that agents in monopoly industries make less effort than ones in competitive industries， so it is necessary to introduce competitive mechanism inside or transform monopoly industries into competitive industries when condition is mature. In the meantime， it is found that team cooperation and member’s support each other have significant positive influence on effort， which requires research and development teams to reinforce cooperation， encourage members to support each other and restrain defeating behavior.

Key words: principal, agent, research and development teams, incentive mechanism, value creation