本文選題：高新技術企業(yè) + 技術創(chuàng)新�。� 參考：《廣東工業(yè)大學》2017年碩士論文

【摘要】：隨著技術進步的不斷加快,科技創(chuàng)新對于高新技術企業(yè)來說至關重要。高新技術企業(yè)作為科技創(chuàng)新的代表,其核心競爭力在于研發(fā)實力的強弱,完善而有效的企業(yè)技術創(chuàng)新機制能夠使企業(yè)在市場中獲得競爭優(yōu)勢。我國制定并實施了一系列以促進高新技術企業(yè)發(fā)展為目的的優(yōu)惠政策和發(fā)展規(guī)劃,已經(jīng)初見成效。但與發(fā)達國家的高科技企業(yè)相比,我國高新技術企業(yè)自主創(chuàng)新能力不強,研發(fā)投入不足。企業(yè)技術創(chuàng)新機制的建立依賴于公司治理機制,公司治理機制影響著企業(yè)技術創(chuàng)新決策和投入。我國正處于經(jīng)濟轉型時期,企業(yè)的公司治理機制尚不健全,這是導致目前高新技術企業(yè)技術創(chuàng)新能力不足的主要原因。企業(yè)科技創(chuàng)新受公司內外部治理機制兩方面因素的影響。內部治理機制是影響科技創(chuàng)新的主要因素,具體包括股權結構、董事會結構、管理層激勵等。外部治理機制可以對公司的內部治理產生積極影響,從而促進企業(yè)技術創(chuàng)新,具體包括控制權市場、債務約束和產品市場競爭等機制。本文首先回顧了公司內外部治理機制與技術創(chuàng)新相關性的文獻,以及公司治理和技術創(chuàng)新相關的理論。在此基礎上提出本文的研究假設,接著以高新技術上市公司為研究對象,通過實證分析公司治理機制對技術創(chuàng)新的影響。實證分析分為兩部分:第一部分首先檢驗高新技術企業(yè)內外部治理機制各要素對企業(yè)技術創(chuàng)新投入的影響。并將樣本公司分為國有企業(yè)組和非國有企業(yè)組,進一步探討不同股權性質的企業(yè)公司治理各要素對技術創(chuàng)新投入的影響是否存在差異。實證結果表明,高新技術企業(yè)內外部治理機制各要素對技術創(chuàng)新的影響程度不同。內部治理機制中,實際控制人的性質對于技術創(chuàng)新投入沒有影響;在非國有企業(yè)中前五大股東持股比例與企業(yè)技術創(chuàng)新投入顯著負相關,而在國有企業(yè)中兩者不相關;董事會規(guī)模、董事長和總經(jīng)理兩職合一對企業(yè)技術創(chuàng)新投入沒有影響;在非國有企業(yè)中獨立董事比例與技術創(chuàng)新投入顯著正相關,但是在國有企業(yè)中兩者顯著負相關;高管持股比例、高管人員平均年薪與技術創(chuàng)新投入顯著正相關;外部治理機制中,無限售流通股比例與企業(yè)技術創(chuàng)新投入顯著正相關;資產負債率與企業(yè)技術創(chuàng)新投入顯著負相關;國有企業(yè)中產品市場競爭程度與企業(yè)技術創(chuàng)新投入顯著正相關,但在非國有企業(yè)中兩者關系不顯著;第二部分的實證分析旨在構建公司治理機制的綜合指標——公司治理指數(shù),并對公司治理指數(shù)與技術創(chuàng)新投入的關系進行檢驗,進一步論證了良好的公司治理機制能顯著促進企業(yè)技術創(chuàng)新的投入。最后,在理論研究和實證分析的基礎上,本文就當前我國經(jīng)濟轉型時期高新技術企業(yè)公司治理機制存在的問題提出了相應對策,并提出了本文的不足之處以及未來研究方向。
[Abstract]:With the continuous acceleration of technological progress, scientific and technological innovation is of great importance to high-tech enterprises.As the representative of scientific and technological innovation, the core competitiveness of high-tech enterprises lies in the strength of R & D. The perfect and effective technological innovation mechanism of enterprises can enable enterprises to obtain competitive advantages in the market.China has formulated and implemented a series of preferential policies and development plans aimed at promoting the development of high-tech enterprises.However, compared with the high-tech enterprises in developed countries, the independent innovation ability and R & D investment of high-tech enterprises in our country are not strong enough.The establishment of enterprise technological innovation mechanism depends on the corporate governance mechanism, which affects the decision and input of enterprise technology innovation.Our country is in the period of economic transformation, the corporate governance mechanism of enterprises is not perfect, which is the main reason leading to the lack of technological innovation ability of high-tech enterprises at present.The innovation of enterprise science and technology is influenced by two factors: internal and external governance mechanism.The internal governance mechanism is the main factor which affects the innovation of science and technology, including the ownership structure, board structure, management incentive and so on.The external governance mechanism can have a positive impact on the internal governance of the company, thus promoting the technological innovation of the enterprise, including the control market, debt constraint and product market competition mechanism.This paper first reviews the literature on the correlation between internal and external corporate governance and technological innovation, as well as the theory of corporate governance and technological innovation.On this basis, this paper puts forward the research hypothesis, and then takes the high-tech listed companies as the research object, and analyzes the influence of the corporate governance mechanism on the technological innovation through empirical analysis.The empirical analysis is divided into two parts: the first part examines the influence of internal and external governance mechanism of high-tech enterprises on technological innovation investment.The sample company is divided into state-owned enterprise group and non-state-owned enterprise group to further explore the influence of different corporate governance factors on technological innovation input.The empirical results show that the factors of internal and external governance mechanism of high-tech enterprises have different influence on technological innovation.In the internal governance mechanism, the nature of the actual controller has no effect on the investment in technological innovation, the proportion of the top five shareholders in the non-state-owned enterprises is negatively correlated with the investment in technological innovation of the enterprises, but the two are not related in the state-owned enterprises.The size of the board of directors, the combination of chairman and general manager have no effect on the investment in technological innovation, the proportion of independent directors in non-state-owned enterprises is positively correlated with the investment in technological innovation, but in state-owned enterprises there is a significant negative correlation between them.The proportion of executive stock ownership, the average annual salary of senior managers and the investment in technological innovation are significantly positive correlation, and in the external governance mechanism, the proportion of unlimited selling and circulating shares is significantly positively correlated with the investment in technological innovation of enterprises.The ratio of assets and liabilities is negatively correlated with the investment of technological innovation of enterprises, the degree of product market competition in state-owned enterprises is positively correlated with the investment of technological innovation of enterprises, but the relationship between them is not significant in non-state-owned enterprises.The second part of the empirical analysis aims to build a comprehensive index of corporate governance mechanism-corporate governance index, and to test the relationship between corporate governance index and technological innovation input.Further demonstrated that a good corporate governance mechanism can significantly promote the input of enterprise technology innovation.Finally, on the basis of theoretical research and empirical analysis, this paper puts forward corresponding countermeasures to the problems existing in the corporate governance mechanism of high-tech enterprises in the period of economic transformation in our country, and puts forward the deficiencies and future research directions of this paper.
【學位授予單位】：廣東工業(yè)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F276.44;F273.1;F271

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