董事会结构与技术创新绩效的关联性研究——来自中国中小上市公司的经验证据

发布时间：2018-05-18 06:09

本文选题：董事会结构 + 技术创新绩效　；参考：《经济与管理研究》2013年02期

【摘要】：结构合理且运作良好的董事会应当以公司的长远发展为主旨,更加偏好于公司成长的科学决策。因此,对于技术创新这类长期投资,中小上市公司的董事会治理也起到较为显著的作用。本文运用2007～2010年中国中小上市公司面板数据,对董事会结构与技术创新水平的关联性进行实证检验得出,董事会规模与技术创新投入与产出均具有显著的倒U型关系,董事会独立性、两职合一与技术创新产出之间存在显著的正相关关系。因此,中小上市公司应保持合理董事会规模,在董事会多样化与决策效率之间找寻平衡点,同时加强董事会独立性,并强化独立董事监督的积极性。
[Abstract]:A reasonably structured and well-functioning board of directors should focus on the long-term development of the company and prefer the scientific decision of the company's growth. Therefore, for long-term investment such as technological innovation, the governance of the board of directors of small and medium-sized listed companies also plays a more significant role. Based on the panel data of small and medium-sized listed companies in China from 2007 to 2010, this paper empirically tests the relationship between board structure and technological innovation level. It is concluded that the size of board of directors and the input and output of technological innovation are significantly inversely U-shaped. There is a significant positive correlation between the independence of the board of directors, the integration of two positions and the output of technological innovation. Therefore, small and medium-sized listed companies should maintain a reasonable board size, find a balance between the diversification of the board of directors and decision-making efficiency, at the same time strengthen the independence of the board of directors, and strengthen the enthusiasm of independent directors' supervision.
【作者单位】：山东大学管理学院;海信集团有限公司;
【基金】：山东省自然科学基金项目“山东省上市公司治理对技术创新的促进效应研究”(ZR2012GM004) 山东省社科规划项目“高管激励契约配置与技术创新绩效的动态关联性研究:以山东省上市公司为例”(12DGLJ01)
【分类号】：F273.1;F224;F832.51

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