摘要
打破传统的'输入-输出'模式,构建'公司治理结构-研发投入-创新绩效'的研究框架,采用2015~2017年创业板高新技术企业的数据,探讨研发投入在公司治理结构与创新绩效的中介作用。实证结果表明:研发投入在股权制衡和创新绩效间起'完全中介效应'、在董事会规模和创新绩效之间起'部分中介效应',在高管持股与创新绩效间也表现为'部分中介效应'。针对上述发现,为企业构建合理的公司治理结构提出了相关建议。
Breaking the traditional'input-output'model,the article builds a research framework of'corporate governance structure-R&D investment-innovation performance',adopts the data of the GEM high-tech enterprises in 2015-2017,based on the intermediary role of R&D investment,exploring the impact mechanism of corporate governance structure on innovation performance.The empirical results show that R&D investment plays fully mediation effect between equity checks and balances and innovation performance,and'partial mediation effect'between board size and innovation performance.It also appears as'partial intermediary effect'between executive shareholding and innovation performance.In view of the above findings,this paper puts forward relevant suggestions for enterprises to construct a reasonable corporate governance structure.
作者
贾春香
刘艳娇
JIA Chun-xiang;LIU Yan-jiao(School of Economics and Management,Inner Mongolia University of Science and Technology,Inner Mongolia Baotou 014010,China)
出处
《科学管理研究》
CSSCI
北大核心
2019年第2期117-121,共5页
Scientific Management Research
基金
内蒙古自然科学基金项目(2017MS(LH)0704)
关键词
公司治理结构
创新绩效
研发投入
中介效应
corporate governance structure
innovation performance
R&D investment
mediating effect
