股权集中度、技术创新能力与企业成长性的关系研究

发布时间：2018-03-17 07:43

本文选题：股权集中度　切入点：技术创新能力　出处：《天津财经大学》2016年硕士论文　论文类型：学位论文

【摘要】：2015年11月3日新华社发布了《中共中央关于制定国民经济和社会发展第十三个五年规划的建议》,"十三五"规划要求必须牢固树立并切实贯彻"创新、协调、绿色、开放、共享"的发展理念,其中将创新作为了发展规划的第一要务,这既彰显了国家层面对创新的高度重视,也说明了研究技术创新的必要性。文章利用沪深两市2009-2014年信息技术行业A股上市公司的平衡面板统计数据,以技术创新能力为切入点,深入探讨股权集中度与企业成长性之间的作用机理,并验证技术创新能力的中介传导作用。文章引入中介效应的研究方法,试图证明股权集中度→技术创新能力→企业成长性的完整链条影响路径,全文共分为5个章节。第1章为导论部分,概述议题的选题背景、目的及意义,描绘全文框架图,并指出文章的创新之处,在这一章内对国内外关于技术创新研究的文献进行总结综述,多视角整理归纳以往的研究成果;第2章界定议题中的关键词概念,并将所涉及理论加以重点阐述;第3章设计研究假设并构建实证模型,说明实证样本选择与数据来源;第4章对股权集中度、技术创新能力与企业成长性三者之间的关系进行了描述性统计、回归分析与检验,并进一步解释回归结果的经济意义;第5章根据议题的研究结果针对性的提出了政策建议,同时说明文章研究过程中的局限之处。文章的研究结果表明,企业的股权集中程度显著正向影响企业的成长性,越是集权化的企业其规模扩张能力越强;股权集中度与技术创新能力之间存在显著的正相关关系,强化股权集中度水平有利于提高企业的技术创新能力;在股权集中度影响企业成长性的作用过程中,技术创新能力起到了部分中介效应的传导作用,将股权结构与企业成长的作用机制串联起来,使公司治理的投入产出路径透明化,为完善现代公司治理机制提供了指导价值。
[Abstract]:In November 3rd 2015, the Xinhua News Agency issued the "proposal of the CPC Central Committee on formulating the 13th Five-Year Plan for National Economic and Social Development." the 13th Five-Year Plan requires that "innovation, coordination, green, and openness" be firmly established and effectively implemented. The shared concept of development, in which innovation is a top priority in development planning, both underlines the importance attached to innovation at the national level, It also shows the necessity of researching technological innovation. This paper makes use of the balance panel statistical data of A-share listed companies in information technology industry from 2009 to 2014 in Shanghai and Shenzhen stock markets, taking the technological innovation ability as the starting point. This paper probes into the mechanism between ownership concentration and enterprise growth, and verifies the intermediary conduction effect of technological innovation ability. This paper introduces the research method of intermediary effect, and tries to prove the equity concentration degree. 鈫扵echnological innovation ability. 鈫扵he thesis is divided into five chapters. Chapter 1 is the introduction part, which summarizes the background, purpose and significance of the topic, describes the frame map of the full text, and points out the innovation of the article. In this chapter, the domestic and foreign literature on technological innovation are summarized, and the previous research results are summarized from different perspectives. Chapter 2 defines the concept of keywords in the topic, and focuses on the theory involved. Chapter 3 designs the hypothesis and builds the empirical model to explain the choice of empirical sample and the data source. Chapter 4 makes descriptive statistics, regression analysis and test on the relationship among ownership concentration, technological innovation ability and enterprise growth. Chapter 5 puts forward the policy recommendations according to the research results of the topic, and explains the limitations of the research process. The research results show that, The degree of ownership concentration has a significant positive impact on the growth of enterprises, and the more centralized enterprises are, the stronger their capacity of scale expansion is, and there is a significant positive correlation between the degree of ownership concentration and the ability of technological innovation. Strengthening the level of ownership concentration is conducive to improving the technological innovation ability of enterprises, and in the process of influencing the growth of enterprises, the technological innovation ability plays a part of intermediary effect. By linking the ownership structure with the mechanism of enterprise growth, the input-output path of corporate governance is transparent, which provides guidance value for the improvement of modern corporate governance mechanism.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F49;F273.1

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