研发逐利、风险控制与管理者经验

发布时间：2018-04-23 09:51

本文选题：研发 + 管理者　；参考：《华中科技大学学报(社会科学版)》2016年06期

【摘要】：管理者的经验水平会显著影响研发的绩效与风险,但这种影响力的大小和方向在管理者职业生涯的不同阶段并不一致。本文以2006年-2014年我国的高新技术类上市公司为样本,以管理者经验为门槛变量,构建研发投入影响企业收益、风险的动态面板门槛估计模型。研究发现:研发投入对企业收益的影响呈现非线性特征,当总经理职龄跨越门槛值5.79年时,研发投入对企业收益的作用由显著为正转向显著为负;研发投入对企业风险的影响也呈现非线性特征,当总经理职龄跨越门槛值1.84年时,研发投入对企业风险的作用由显著为正逆转为显著为负。本研究拓展了关于企业RD活动的研究视角,有助于对管理者的经验价值进行澄清与意义重估,对于我国高新技术企业的高管任期设置、相关主管部门的政策支持等亦有所启发。
[Abstract]:The level of managers' experience can significantly affect the performance and risk of R & D, but the magnitude and direction of this influence is not consistent at different stages of the managers' career. This paper takes the high-tech listed companies in China from 2006 to 2014 as the sample, takes the manager's experience as the threshold variable, constructs the dynamic panel threshold estimation model which the R & D investment affects the income and risk of the enterprise. It is found that the effect of R & D investment on corporate income is nonlinear. When the working age of general manager crosses the threshold of 5.79 years, the effect of R & D investment on corporate income changes from significantly to positively to significantly to negative; The influence of R & D investment on enterprise risk also showed nonlinear characteristics. When the working age of general manager crossed the threshold of 1.84 years, the effect of R & D investment on enterprise risk changed significantly from positive to negative. This research expands the perspective of R D activities of enterprises and helps to clarify and reassess the experience value of managers. It is also enlightening for the tenure of senior executives in high and new technology enterprises and the policy support of relevant departments in charge of high and new technology enterprises in China.
【作者单位】：河南财经政法大学工商管理学院;
【基金】：河南省软科学研究计划项目“河南高技术企业研发活动中的收益-风险关系退耦研究”(172400410509) 河南省哲学社会科学规划项目“两化深度融合背景下的河南制造型小微企业竞争力研究”(2015-BJJ-006) 河南省教育厅人文社会科学研究重点项目“两化深度融合背景下的小微企业竞争力研究”(2015-ZD-007)
【分类号】：F275;F272.91

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