摘要
以2002至2004年间的495家上市公司为样本,实证检验了高管持股对企业R&D支出的影响。结果发现,高管持股与企业R&D支出之间呈显著正相关关系,且这种正相关关系仅存在于高科技类上市公司。这表明对高科技类企业高管的股权激励有利于增加企业的R&D支出。
By the data of 495 listed firms in China from 2002 to 2004, this paper analyzes ownership on firms′ R＆D expenditures. Consistent with our hypothesis, the results show that significantly That means the effects of management management ownership is positive with firms′ R＆D expenditures,which only exit in the hi-tech listed firms by further analyses granting management ownership in hi-tech firms will favor the enhancement of firms′ R＆D expenditures
出处
《科学学与科学技术管理》
CSSCI
北大核心
2007年第10期172-175,共4页
Science of Science and Management of S.& T.
关键词
管理层激励
高管持股
R&D支出
management incentive
management ownership
R＆D expenditures
