| 中国制造业企业的研发投资:创新导向与激励机制的交互作用 |
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| 引用本文： | 梁彤缨,孙晨曦,陈波.中国制造业企业的研发投资:创新导向与激励机制的交互作用[J].科技管理研究,2015(8). |
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| 作者姓名： | 梁彤缨 孙晨曦 陈波 |
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| 作者单位： | 华南理工大学工商管理学院,广东广州,510641 |
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| 基金项目： | 教育部人文社会科学研究规划基金项目“基于多层嵌套随机前沿模型的中国工业企业研发效率研究” |
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| 摘 要： | 利用2009年-2012年中国制造业上市公司的数据,结合企业行为理论和委托代理理论,研究创新导向和管理层激励对研发投资的交互作用。同时检验管理层激励与研发投资可能存在的非线性关系。研究结果表明,短期薪酬激励与创新导向对研发投资存在替代效应,而问题导向越明显,长期股权激励能够显著地促进企业研发投资。
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| 关 键 词： | 研发投资 创新导向 短期薪酬激励 长期股权激励 |
| 收稿时间： | 2014/6/9 0:00:00 |
| 修稿时间： | 2014/6/9 0:00:00 |
R & D Investment in Chinese Manufacturing Firms:Interaction between Innovation Orientation and Managerial Incentives |
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| LIANG Tongying,SUN Chenxi,CHEN Bo.R & D Investment in Chinese Manufacturing Firms:Interaction between Innovation Orientation and Managerial Incentives[J].Science and Technology Management Research,2015(8). |
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| Authors: | LIANG Tongying SUN Chenxi CHEN Bo |
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| Abstract: | Based on the behavioral theory,innovation orientation is divided into resource-oriented innovation and problem-oriented innovation. In other words, firms make an R&D investment based on the objective of performance improving or slack utilization. In combination with behavioral theory and agency theory, we examine a sample of Chinese publicly-traded manufacturing firms over the period of 2009-2012 and argue the interaction effect between innovation orientation and managerial incentives on R&D investment. We also examine the possible nonlinear relationship between managerial incentives and R&D. We find that there is a substitution effect between executive short-term incentives and innovation orientation on R&D investment, and the stock ownership and the problem orientation have a significant positive effect on R&D investment. |
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| Keywords: | R&D investment innovation orientation executive short -term incentives stock ownership |
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