管理者能力、分析师关注与企业创新——基于中国A股上市公司的实证分析

Managerial Ability, Analyst Concerns and Enterprise Innovation——An Empirical Analysis Based on China's A-Share Listed Companies

创新是企业发展和提升竞争力的重要内生变量,那么企业创新受哪些因素影响呢?论文以2010-2019年沪深两市A股上市公司为样本,检验管理者能力和分析师关注对企业创新的影响。研究表明,管理者能力和分析师关注对企业创新均具有显著正向影响,即管理者能力越强,企业创新效率越高;分析师关注程度越高,企业创新效率越高。论文不仅对管理者能力、分析师关注和企业创新的相关理论研究是有益的补充,而且为推动和提升企业创新提供了可行的思路与途径。

Innovation is an important endogenous variable for enterprise development and promotion of competitiveness.So what are the factors that affect enterprise innovation?This paper takes A-share listed companies in Shanghai and Shenzhen from 2010 to 2019 as a sample to test the impact of managerial ability and analyst concerns on enterprise innovation.The research shows that the managerial ability and analyst concerns have a significant positive impact on enterprise innovation,that is,the stronger the managerial ability,the higher the enterprise innovation efficiency;the higher the analyst concerns,the higher the enterprise innovation efficiency.This paper is not only a beneficial supplement to the relevant theoretical research of managerial ability,analyst concerns and enterprise innovation,but also provides a feasible ideas and ways to promote and improve enterprise innovation.