行业周期视角下企业创新能力影响因素综合研究——来自中国制造业上市公司的经验证据

发布时间：2018-04-15 09:00

本文选题：行业周期 + 企业创新能力　；参考：《中国管理科学》2016年S1期

【摘要】：本文以中国制造业上市公司为研究对象,运用结构方程模型综合分析了不同行业周期下企业内部因素,即企业负债、高管激励、企业规模和股权结构对企业创新能力的影响和作用机制。研究结果表明:(1)对于成长型和衰退型行业的企业而言,高管激励和企业规模对企业创新能力有显著的正向影响,企业负债和股权结构对企业创新能力有显著的负向影响。(2)高管激励和企业规模对企业创新能力有显著的直接效应和间接效应,企业负债对企业创新能力只有显著的直接效应,股权结构对企业创新能力只有显著的间接效应。(3)对于成长型行业的企业,高管激励比股权结构对企业创新能力的影响程度更大,对于衰退型行业的企业,股权结构比高管激励对企业创新能力的影响程度更大。本文结论对于更好地理解企业创新行为以及提升企业创新能力有重要的参考价值。
[Abstract]:In this paper, the listed companies in Chinese manufacturing industry are taken as the research object, and the structural equation model is used to analyze the internal factors of enterprises under different industry cycles, that is, corporate debt, executive incentive.The influence and mechanism of enterprise scale and ownership structure on enterprise innovation ability.The results show that: 1) for firms in growth and recession industries, executive incentives and firm size have a significant positive impact on the ability to innovate.Corporate debt and equity structure have a significant negative impact on enterprise innovation ability. (2) Executive incentive and enterprise scale have significant direct and indirect effects on enterprise innovation ability, and corporate debt has only significant direct effect on enterprise innovation ability.Equity structure has only a significant indirect effect on the innovation ability of enterprises. (3) for the enterprises in the growth industry, the executive incentive has more influence on the innovation ability than the equity structure, and for the enterprises in the declining industry, the equity structure has a significant indirect effect on the innovation ability of the enterprises.The equity structure has more influence on the innovation ability than the executive incentive.The conclusion of this paper has important reference value for better understanding enterprise innovation behavior and improving enterprise innovation ability.
【作者单位】：电子科技大学经济与管理学院;
【基金】：国家自然科学基金资助项目(71472025) 教育部人文社会科学研究资助项目(14YJA790062)
【分类号】：F273.1;F425

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