产品市场竞争、董事会异质性对技术创新的影响——来自民营上市公司的经验证据

The Impact of Product Market Competition and Board Heterogeneity on Technology Innovation——Empirical Evidence from Private Listed Companies

文章采用多层线性分析方法,以民营上市公司2011-2014年的数据为样本,对产品市场竞争、董事会异质性与企业技术创新的关系进行了实证研究。结果表明:董事会的平均受教育水平对民营企业R&D支出产生明显的促进作用,董事会教育水平异质性和专业知识异质性与民营企业R&D支出没有显著性影响,职能背景异质性对民营企业R&D支出的影响随着行业竞争程度而变化,产品市场竞争对民营企业技术创新是一个非常重要且不容忽视的影响因素。研究结论对于民营企业完善董事会结构具有较强的借鉴意义。

Using the hierarchical linear method and Chinese private listed firms from 2011 to 2014 as samples, the relationship between product market competition, board heterogeneity and companies technology innovation is tested by an empirical research. The results show that the average education level of the board of directors has obvious promoting effect on private en- terprises R＆D, board heterogeneity in education level and professional have no significant effect on private enterprises R＆D, the effect of functional heterogeneity on private enterprise R＆D changes with the degree of industry competition, therefore, for technological innovation in private enterprises, product market competition is a very important influencing factor that cannot be neglected. The research conclusion has a stronger significance to improving board structure in private enterprises.