摘要
本文以2009-2013年中小板高新技术上市公司面板数据为样本,分析了R&D投入、CEO组织权力与企业价值的影响关系。研究表明:R&D投入与企业价值显著正相关;CEO组织权力与企业价值无显著线性关系,但CEO组织权力可以通过对R&D投入的调节作用正向影响企业价值;R&D投入与企业价值的关系以及CEO组织权力的调节效应会因企业规模产生差异。
Using the Panel data of Small plates High-tech enterprise in China from 2009 to 2013.This paper analyses the relationship among R&D investment,CEO organizational power and High-tech enterprise value.The results suggest that R&D investment is positively related with enterprise value:no significant effect is found between CEO organizational power and enterprise value,while Moderating Effects of CEO organizational power and R&D investment will positively related with enterprise value;The relationship between R&D investment and enterprise value As well as CEO of organizational power regulating effect can produce difference because of the enterprise scale.
出处
《财会通讯（下）》
北大核心
2015年第10期76-78,129,共3页
Communication of Finance and Accounting
关键词
R&D投入
CEO组织权力
调节效应
R&D investment
CEO organizational power
Moderating effects
