【摘要】 近年来,产品市场竞争作为公司治理的一种外部机制正受到重视。本文取2006年中国上市公司数据,以产品市场竞争为出发点,将公司治理绩效、经理人薪酬、经理人市场竞争度与企业研发联系起来进行实证分析。研究结果表明,这四项与HHI都呈正向相关关系,说明提高产品市场竞争度不仅有利于改善公司治理绩效,而且能够通过较高的薪酬选拔合乎企业的优秀人才。实证分析显示,研发与HHI间的关系最为显著,但其受控制权性质、资产与债务规模的控制较为明显。更多还原

【Abstract】 In recent years,competion in product markets as a very important external corporate governance method has been noticed.Studying the product market competition,we analyze the relationship among the corporate governance performances,managerial pay,managerial markets competition and R&D based on the data of listed companies in 2006.The result indicates that the four items have positive relationship with the HHI,which means high product market competition can not only improve the corporate governance performances but also select the excellent managers.The relationship between R&D and HHI shows R&D is also controlled by the scale of asset and debt apparently.更多还原