董事会、资源约束与创新环境影响下的创业企业研发强度——来自创业板企业的证据

Board of Directors,Resources Restriction,Innovation Environment and the R&D Intensity in Entrepreneurial Enterprises——Based on Evidence of Companies in Growth Enterprise Market

基于中国创业板企业的数据,从企业内外部视角实证检验了董事会、资源约束和创新环境对创业企业研发强度的影响。研究表明:董事会规模、董事会持股与创业企业研发强度显著正相关;企业规模、研发人员比例与研发强度显著正相关;好的创新环境有助于促进创业企业研发投入,但区域知识产权保护会在一定程度抑制创业企业的研发投入。

Based on the data of the Growth Enterprise Market and from the internal and external perspective, the study em- pirically tests the factors on the R＆D intensity, viz. board of directors, resources restriction and the innovation environment. The results indicate that the board size, the board shareholding, the firm size and the R＆D staff have positive effect on the R＆D intensity. The results also show that the innovation environment can promote the R＆D intensity, and to some extent, the level of the protection of the intellectual property rights restrains the R＆D intensity.