机构地区: 湖南大学工商管理学院
出 处: 《财会通讯(下)》 2017年第9期90-95,共6页
摘 要: 为了探讨中小企业公司治理对R&D投入的影响,文章基于资源依赖理论和高层梯队理论,分析2010-2014年中小企业板上市公司董事会资本和CEO背景特征对R&D投入的影响。研究表明,董事会人力资本和社会资本,CEO教育水平和政治背景都对R&D投入有促进作用。进一步地,CEO教育水平越高,董事会人力资本、董事会社会资本越促进R&D投入,且在欠发达城市中积极影响更显著。CEO政治背景和董事会人力资本的交互作用不利于R&D投入,在欠发达城市中抑制作用更显著。CEO政治背景和董事会社会资本的交互作用促进R&D投入,且在发达城市中积极影响更显著。本文强调了董事会资本和CEO背景特征的交互作用,并从区域发展差异的角度,深化了公司治理对研发投入的影响研究。 In order to study the influence of corporate governance in SMEs, according to the Resource Dependence Theory and Upper Echelon Theory, this paper studies the effects of board capital and CEO characteristics on R&D input about listed companies on SME board from 2010 to 2014. The results indicate that board human capital and social capital, CEO education and governmental background are supportive to R&D input. Additionally, the interaction between CEO's high educational level and board capital motivates the R&D expenditure, and the effect is more obvious in less developed cities. The interaction between CEO's governmental background and board human capital has adverse effect on R&D, which is more severe in less developed cities. The interaction between CEO's governmental background and board social capital has positive effect on R&D, which is more significant in developed cities. This paper emphasizes the interaction between board capital and CEO characteristics, and deepens the research on corporate governance and R&D investment through differentiating regional developing degree.