家族涉入、董事会规模与企业研发投入

发布时间：2018-03-03 00:12

本文选题：家族涉入　切入点：董事会规模　出处：《山东社会科学》2017年02期 　论文类型：期刊论文

【摘要】：本文选取2011—2013年中国家族上市公司数据,构建多元回归模型并验证了家族涉入程度与董事会规模对企业研发投入的直接关系,并以对立假设形式,检验了董事会规模对家族涉入与研发投入之间直接关系的调节效应。实证结果表明:家族涉入水平与企业研发投入呈显著的负向关系;董事会规模与企业研发投入呈显著的正向关系;董事会规模对家族涉入与企业研发投入之间的关系起显著的调节作用,董事会规模越大,家族涉入水平对研发投入的阻碍作用越强。上述结论说明家族企业应正确对待其特有的代理问题以及经济和情感双重目标的存在而对研发投入等风险性活动的阻碍作用;且不能忽略家族企业的独特性而盲目增加董事会人数以免造成更大的不利影响。
[Abstract]:This paper selects the data of Chinese family listed companies from 2011 to 2013, constructs a multivariate regression model and verifies the direct relationship between the degree of family involvement and the size of the board of directors on the R & D investment of enterprises. The effect of board size on the direct relationship between family involvement and R & D investment is examined. The empirical results show that the level of family involvement has a significant negative relationship with R & D investment. The size of the board of directors plays a significant role in regulating the relationship between family involvement and enterprise R & D investment, and the larger the board size, the greater the size of the board of directors. The above conclusion shows that the family firm should correctly deal with its unique agency problem and the existence of economic and emotional dual objectives to the risk activities such as R & D investment. And we should not ignore the uniqueness of the family firm and blindly increase the number of board of directors to avoid greater adverse impact.
【作者单位】：山东大学管理学院;山东建筑大学商学院;
【基金】：山东省自然科学青年项目(项目编号:2014ZRB01A78) 山东省社科规划青年项目(项目编号:14DGLJ05) 济南市哲学社会科学规划项目(项目编号:JNSK15C08)的阶段性成果
【分类号】：F271;F273.1;F275

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