管理层股权激励对R&D与企业创新绩效影响的实证研究——基于制造业上市公司的面板数据被引量：10

Empirical Research on the Influence of Management Equity Incentive on R&D and Enterprise Innovation Performance——Based on Panel Data of Listed Companies of Manufacturing Industry

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摘要 R&D投入是我国转变经济发展方式、实现赶超战略的重要途径,是企业创新发展、增强产业竞争力的关键举措。随着我国企业研发支出数量和比重的持续增加,R&D投入的效率问题成为研究的重要内容。以我国制造业上市公司2009—2014年面板数据为样本,以管理层股权激励作为调节变量,检验了R&D投入对企业创新绩效的影响。结果表明,管理层股权激励属于半调节变量,能够促进管理层从长期发展角度进行R&D决策,提高企业创新绩效。 R＆D input is the key point to prompt the economy development quality in China and enhance the industrial competition ability for the enterprises. In recent years, with the continuous increasing of R＆D input in China, the R＆D input efficiency has be- come the important content of research. Using the panel data of the manufacturing listed companies in China from 2009 to 2014, the ar- ticle takes the management equity incentive as a moderating variable to test the influence between R＆D input and the innovation per- formanee of enterprises. It is demonstrated that the management equity incentive is a semi-moderating variable to promote the R＆D de- cision-making from the perspective of long-term development of enterprises and promote the enterprise innovation performance.

作者王辉臧日宏李伟

机构地区中国农业大学经济管理学院北京大学光华管理学院

出处《科技与经济》 2016年第1期6-10,共5页 Science & Technology and Economy

关键词股权激励 R&D 创新绩效实证研究 equity incentive R＆D innovation performance empirical research

分类号 F272.92 [经济管理—企业管理] F273.1 [经济管理—企业管理] F425 [经济管理—产业经济]

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