摘要
股权结构是影响企业盈利的重要因素。文章选取2012一2022年制造业上市公司为样本,分析股权集中度与企业绩效之间的关系,并通过产权性质分组来进行异质性分析。进一步引入研发创新作为中介变量,探讨其在股权集中度对企业绩效的影响作用中是否存在中介效应。实证结果证明:(1)股权集中度能对企业绩效产生正向促进作用,这一结论也通过了稳健性检验。(2)研发创新对股权集中度与公司绩效之间的关系具有中介作用。
The ownership structure is an important factor affecting the profitability of enterprises.The paper selects the listed manufacturing companies from 2012 to 2022 as samples to analyze the relationship between ownership concentration and enterprise performance,and analyzes the heterogeneity through property rights grouping.Further,R&D innovation is introduced as an intermediary variable to explore whether there is an intermediary effect in the influence of ownership concentration on firm performance.The empirical results show that:(1)ownership concentration can positively promote enterprise performance,and this conclusion has also passed the robustness test;(2)R&D innovation plays an intermediary role in the relationship between ownership concentration and corporate performance.
作者
蒋影
Jiang Ying(School of Economics and Management,Hu'nan University of Technology,Zhuzhou Hu'nan 412000)
出处
《山东纺织经济》
2024年第9期13-17,共5页
Shandong Textile Economy
基金
湖南省教育厅科学研究青年项目“数字经济影响湖南省制造业高质量发展的机制、效应与策略研究”(22B0571)
2023年度湖南省社会科学成果评审委员会一般课题“数字经济影响碳排放效率的机制、效应与策略研究”(XSP2023JJZ011)。
关键词
股权集中度
企业绩效
研发创新
ownership concentration
enterprise performance
R&D innovation
