摘要
以2011—2013年深交所的A股中小企业上市公司数据作为研究样本，将公司治理作为调节变量，采用描述性统计分析、相关性分析以及回归分析来研究技术创新对公司绩效的影响。结果显示：技术创新与公司绩效有显著的正相关关系；第一大股东持股比例对技术创新与公司绩效存在负向调节作用，且与公司绩效并不显著相关；董事薪酬水平和独立董事比例对技术创新与公司绩效的关系没有调节作用，但董事薪酬水平与公司绩效有直接的显著正相关关系；管理层持股比例对技术创新与公司绩效关系存在正向调节作用。
Yearly reports of SMEs listed in Shenzhen Stock Exchange from 2011 to 2013 are used to study the moderating effect of corporate governance on the relationship between technological innovation and corporate performance. Three research methods have been used, such as descriptive statistical analysis, correlation analysis, and regression analysis. The main contributions of the study are as follows ： Firstly, R＆D expenditure with firm performance as measured by return presents significantly positive correlation. Secondly, the proportion of the largest shareholder has negative moderating effect on the relationship and has no influence on the performance. Thirdly ,the salary level of director and the proportion of independent directors all have no moderating effect on the relationship, but the salary level of director directly and significantly influ- ences the firm performance. Fourthly, the share proportion of management has positive moderating effect on the relationship.
出处
《世界科技研究与发展》
CSCD
2015年第6期729-734,共6页
World Sci-Tech R&D
关键词
技术创新
公司绩效
公司治理
调节效应
描述性统计分析
相关性分析
回归分析
technological innovation
corporate performance
corporate governance
moderating effects
descriptive statisticalanalysis
correlation analysis
regression analysis
