摘要
技术创新是企业的核心成功因素和永恒追求,对中国企业更具有特殊意义。本文采用2013~2017年沪深A股制造业上市央企的专利和财务数据,研究了高管团队异质性和税收优惠对企业技术创新的影响。研究发现,总体上,高管团队身份异质性、工作职能异质性、隐性薪酬差距和税收优惠都与技术创新负相关。进一步分组分析发现,高管团队身份异质性在轻工业与非高新技术产业领域具有显著负向影响,而工作职能异质性的显著负影响体现在重工业与高新技术产业领域,且仅在东部地区成立,在中、西部地区不成立。行业分组和区域分组后,隐性薪酬差距的影响不再确定。税收优惠与技术创新在行业和区域分组后仍然负相关。影响作用由高到低依次为高管团队身份异质性、工作职能异质性、税收优惠和隐性薪酬差距。前期超额实质性创新对后期实质性创新产出具有决定性促进作用,前期超额策略性创新对后期技术创新总产出和策略性创新产出具有决定性促进作用,但对后期实质性创新产出没有促进作用。
Technological innovation is the core success factor and eternal pursuit of enterprises which has special significance for Chinese enterprises.This paper uses the patent and financial data of the manufacturing listed central enterprises in Shanghai and Shenzhen A-share market from 2013 to 2017,and studies the impact of executive team heterogeneity and tax incentives on technology innovation.The study found that TMT identity heterogeneity,job-function heterogeneity,implicit pay gaps and tax incentives are negatively related to technological innovation in general.Moreover,group analysis found that the heterogeneity of TMT identity has a significant negative impact in the light industry and non-high-tech industries,while the significant negative impact of job-function heterogeneity is reflected in the heavy industry and high-tech industries,which are only established in the eastern region rather than in the central and western regions.After the industry and regional grouping,the impact of the implicit pay gap is no longer determined.Tax incentives and technological innovations remain negatively correlated after industry and regional grouping.The impacts from high to low are the TMT heterogeneity,job-function heterogeneity,tax incentives and implicit pay gaps.The excessive substantive innovation in the early stage has a decisive role in promoting the substantive innovation output in the later period.In addition,the pre-existing strategic innovation has a decisive role in promoting the total output of technological innovation and strategic innovation output,but it does not promote the substantive innovation output in the later period.
作者
姜春海
徐浩然
张巍
Chunhai Jiang;Haoran Xu;Wei Zhang
出处
《产业经济评论(山东)》
2020年第3期83-118,共36页
Review of Industrial Economics
基金
国家自然科学基金面上项目“核心企业‘垂直整合—网络嵌入’的创新生态系统生成机制与效应研究:产业链知识体视角”(批准号71972029)资助
关键词
实质性技术创新
策略性技术创新
高管团队异质性
隐性薪酬差距
税收优惠
Substantial Technological Innovation
Strategic Technological Innovation
TMT Heterogeneity
Implicit Pay Gap
Tax Incentives