技术资本、高管团队异质性与企业成长——国有与民营企业的对比分析.pdfVIP

- 81 一 中国科技论坛 第2 期 (2016 年2 月) 技术资本、高管团队异质性与企业成长 一一国有与民营企业的对比分析 许秀梅 (青岛农业大学经济与管理学院，山东 青岛 266109) 摘 要:选取国有与民营企业为样本，构建动态面板模型，实证分析了技术资本、高层管理团队 (TMT) 异质性与企业成长的内在关系。研究发现，国有、民营企业技术资本投入对成长能力具有明显的提升作 用。所不同的是，国有样本TMT 受教育水平、职业背景异质性对技术资本的调节及对成长能力的提升较 显著，但TMT 年龄与任期异质性的影响不明显。民营样本TMT 职业背景、任期异质性对技术资本的调节 及对成长能力的提升较显著，但TMT 受教育水平与年龄异质性的影响不明显。 关键词:技术资本; TMT 异质性;企业成长;国有:民营 中图分类号: F272.92 文献标识码:A Technology Capital , TMT Heterogeneity and Firm Growth: A Comparative Analysis from State and Private Enterprises Xu Xiumei (College of EconomicsManagement , Qingdao Agricultura1 University , Qingdao 2661ω ， China) Abstract: Selecting state and private companies as samples and building dynamic panel model , this paper empirically analyzed rela- tionships 缸nong technology capi时， TMT heterogeneity and enterprise growth. The results find that state and private enterpri盹矿 technol­ ogy investment can significantly improve growth ability. In state sample , the effect of TMT education level and occupation background heterogeneities on regulationωtechnology capital and enhancement of grow ability 缸e significant , but that of TMT age and tenure het- erogeneity effect are not significant. In private sample , the effect of TMT 配cupation background and tenure heterogeneity on regulation to technology capital and enhancement of growth ability 缸e significant , but that of TMT education level and age heterogeneity is not sig- nificant. According to above conclusions , the au曲。r puts forwaro mana在;ement suggestions. Key words: Technology capital; TMT heterogeneity; Enterprise growth; State-o