摘要
企业投资效率的提高是推动企业自身发展与国家经济增长的有效途径,利用高层梯队理论和有限理性论,对沿海地区2013-2017年中国沪深A股的3591个上市高新技术企业的董事长进行分析,明确技术型董事长可以显著影响投资效率,改善投资不足、抑制投资过度;相比于国有企业,在非国有企业背景下技术型董事长对企业投资效率的影响更大。
Improving the efficiency of corporate investment is an effective way to promote the development of enterprises and the growth of national economy. Based on the Upper Echelons Theory and the theory of Simmon’s Bounded Rationality,chairmen from 3,591 coastal high-tech enterprises in the list of Chinese A-share companies during 2013 and 2017 were chosen for sample data. Analysis reveals that technical chairmen can significantly affect investment efficiency,improve underinvestment and curb overinvestment. Compared with those in state-owned enterprises,the technical chairman has a greater influence on corporate investment efficiency in non-state-owned enterprises.
作者
冷珣
骆良彬
LENG Xun;LUO Liangbin(College of Finance and Economics,Jimei University,Xiamen 361021,China)
出处
《福建工程学院学报》
CAS
2019年第2期160-166,共7页
Journal of Fujian University of Technology
基金
福建省科技计划项目软科学项目(2017R0072)
关键词
高新技术企业
技术型董事长
产权性质
投资效率
high-technology enterprises
technical chairman
nature of property rights
investment efficiency
