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辽宁上市公司治理影响企业技术创新的实证分析
An Empirical Study on Corporate Governance Influencing Technical Innovation of listed Companies in Liaoning Province
【摘要】 本文利用2009-2011年辽宁上市公司60家样本数据,对公司治理与技术创新的关系进行了实证分析。研究得出主要结论为:企业高管持股与技术创新存在正向相关关系,但并不显著;股权集中度与技术创新存在"倒U型"关系,显著性也不明显;国有股比例与企业技术创新存在显著负向相关关系;国有控股企业的技术创新积极性要弱于非国有控股企业;机构持股与技术创新存在正向相关关系,机构持股比例越高,企业技术创新投资越踊跃;独立董事所占比例与技术创新投入存在正向相关关系,但这种积极效应的显著性并不明显。据此,提出了改善辽宁公司治理、推进技术创新的政策建议。
【Abstract】 This paper empirically analyzed the relationship between corporate governance and technical innovation based on the 60 samples of listed companies in Liaoning Province from 2009 to 2011. Main conclusions are as follows: there is a positive correlation between enterprise executives shareholding and technical innovation, but it has no statistical significance; there is an " inverted U" relationship between ownership concentration and technical innovation, but it isn’t significant; there is a significant negative correlation relationship between the proportion of state-owned shares and technical innovation; the enthusiasm of technical innovation in state-owned holding enterprises is weaker than that in non-state-owned holding companies; institutional investors of enterprise play a positive role to promote technical innovation; the higher institutional ownership means the higher investment of technical innovation; there is a positive correlation relationship between the proportion of independent directors and technical innovation, but the positive effects is not obvious. According the conclusions, we put forward some suggestions on how to improve corporate governance and promote technical innovation.
- 【文献出处】 辽宁大学学报(哲学社会科学版) ,Journal of Liaoning University(Philosophy & Social Science) , 编辑部邮箱 ,2014年02期
- 【分类号】F273.1;F271.5
- 【被引频次】9
- 【下载频次】219