摘要
采用2005～2008年821家上市公司的数据分析了CEO的基本薪酬、股权报酬和两职合一对企业研发战略的影响,实证结果显示:CEO的股权报酬和两职合一程度与企业研发战略显著正相关,CEO的基本薪酬与企业的研发战略无关,而且股权集中度是股权报酬、两职合一与研发战略两者关系的调节变量。发现股权集中度也会影响负债水平、盈利情况与研发战略两者之间的关系。
This paper investigates the influence of basic payment,ownership compensation and duality of CEO on RD strategy based on the data of 821 listed companies from 2005 to 2008.The results show that： CEO ownership compensation and duality are positively related to RD strategy,while basic payment is not related to RD strategy;stock concentration is a moderator of the relationship between CEO ownership compensation and duality and RD strategy.The empirical research finds that the ownership concentration could affect the relationship between liability and profitability and RD strategy.
出处
《软科学》
CSSCI
北大核心
2011年第10期17-21,26,共6页
Soft Science
关键词
股权集中度
股权报酬
两职合一
研发战略
ownership concentration
ownership compensation
duality
R＆D strategy
