股权结构论文：股权结构对创新绩效的影响研究.docVIP

股权结构论文：股权结构对创新绩效的影响研究 【中文摘要】在知识经济时代,市场竞争程度和环境的不确定性日益加剧,创新能力的高低对企业乃至整个国家而言都变得日益重要。企业维持长期竞争优势的惟一方法就是不断进行技术创新,建立自己的核心能力——尤其是对高新技术企业而言。在这样的背景下,现代企业总是试图建立行之有效的创新机制,以确保创新决策的正确性和创新投入的高回报率。这种创新机制的建立是服从于公司股权结构的,即有赖于股权集中度、股权制衡度和所有权性质的安排。然而国内外学术界将股权结构与技术创新绩效相结合的研究尚不多见,而且以我国高新技术企业为研究对象的实证研究还是空白。因此,本文拟在大量文献阅读的基础上,进行理论分析和实证研究,以揭示股权结构对企业创新绩效的影响过程。本文认为股权结构对创新绩效是有影响的,但是这种影响有很大一部分是通过研发投入实现的,由此构建了“股权结构——研发投入——创新绩效”的概念模型,并通过对我国高新技术上市公司的实证研究验证了此模型,为我国高新技术企业优化股权结构,培养技术创新能力,提升企业核心竞争力提供理论依据和技术指导。 【英文摘要】In knowledge economic era, the uncertainty of market competition and environment intensifies day by day, the level of innovative ability becomes more and more important to companies and even the whole country. The only way to maintain enduring competitive advantage for a company is to continue constant technical innovation and establish it抯 own core competency, especially for high-tech companies. Under this circumstance, modern companies are trying to establish efficient innovative institutions to ensure making right innovative decisions and high returns from innovative investment. The establishment of innovative institutions of such companies is subject to corporate shareholding structure, that is the arrangement of shareholding concentration ratio, degree of shareholding restriction and ownership nature. However, there are rare researches on the combination of shareholding structure and technical innovative performance in domestic and overseas academic circles, and empirical studies on high-tech companies of our country are blank. So this paper intends to carry out a research on innovative performance of our country抯 high-tech listed companies from the perspective of shareholding structure, and tries to find the inner relations of them through theoretical research and real evidence analysis.On the basis of reading a large number of domestic and overseas literature, this essay finds that the realization of the effect of shareholding structure on innovative performance through RD input, an