创始人技术知识资产、两职合一与创新绩效

Technical Knowledge Assets,Chair-CEO Duality of Founders and Innovation Performance in Technological SMEs

以2012—2015年中关村新三板挂牌的180个科技型中小企业为样本,以创始人技术知识资产为切入视角,以创始人持股比例为作用路径,采用中介效应回归法,分析创始人两职合一的原因,并进一步使用倾向匹配得分法(PSM)研究创始人两职合一对创新绩效的影响。结果发现:(1)创始人技术知识资产与创始人两职合一的比例显著正相关;(2)创始人技术知识资产通过创始人持股比例的部分中介效应能够促进创始人两职合一;(3)创始人两职合一可以显著提升企业创新绩效。分析拥有技术知识资产的创始人提高公司创新绩效的内部机理,并证实了两职合一的创始人能够更好地推动技术创新,为科技型中小企业优化公司治理结构和提高创新水平提供了新思路。

This paper use mediating effect regression method and propensity-match-pointing method(PSM)to explore the influences of founder's technical knowledge assets,founder's shareholding ratio and Chair-CEO duality of founders on innovation performance.Using a sample of 180 technological SMEs listed on the national equities exchange and quotations in Zhong Guancun from 2012 to 2015,we find that there is a significant positive correlation between founder's technical knowledge assets and Chair-CEO duality of founders.The founder's technical knowledge assets promote the two founders'unionization through some mediating effects of the founder's shareholding ratio.The Chair-CEO duality of founders can significantly improve corporate innovation performance.This study analyzes the internal mechanisms by which the founders of technological knowledge assets can improve innovation performance and confirme that the Chair-CEO duality of founders are better promoters of technological innovation,which provides a new idea of corporate governance structures for SMEs in the future.