华东师范大学(哲学社会科学版) ›› 2014, Vol. 46 ›› Issue (6): 129-138.

• 经济管理问题探讨 • 上一篇    下一篇

ＣＥＯ 特征对Ｒ＆Ｄ 投入的影响 
——基于中国制造业上市公司的实证分析

薛跃，陈巧   

  1. 华东师范大学商学院会计系，上海，２００２４１
  • 出版日期:2014-11-15 发布日期:2014-12-11
  • 通讯作者: 薛跃，陈巧
  • 作者简介:薛跃，陈巧

The Impact of CEO Characteristics on R&D Investment Intensity: An Empirical Study Based on Chinese Listed Manufacturer Firms

XUE Yue & CHEN Qiao   

  • Online:2014-11-15 Published:2014-12-11
  • Contact: XUE Yue & CHEN Qiao
  • About author:XUE Yue & CHEN Qiao

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摘要： 研究与开发（Ｒ＆Ｄ）投入作为企业的一项战略选择，受到企业处于战略决策层高层管理者的有限理性和认知模式的制约。以中国制造业上市公司２００９—２０１１ 年的Ｒ＆Ｄ 投入数据为研究样本，探讨ＣＥＯ 能力、动力及权力等特征与Ｒ＆Ｄ 投入的关系，结果发现：ＣＥＯ 工作背景、政治关联、持股比例与研发投入存在显著正相关关系。因此，选择具有创新意识、能够发现创新机会、辨别投资风险的ＣＥＯ 并提高其持股比例，有助于企业的Ｒ＆Ｄ 投入，进而有助于企业迅速发展；而应减少政府对经济的干预，才有利于激发更多企业参与公平公正的市场竞争，减少企业通过政治关联进行寻租的机会，自主提高Ｒ＆Ｄ 投入的比例。

关键词: 研究与开发, Ｒ＆Ｄ 投入, Ｒ＆Ｄ 强度, ＣＥＯ 特征, 高层梯队理论

Abstract: This paper chooses the listed manufacturer firms in China as samples from 2009 to 2011, with focusing on exploring relationships between their CEO characteristics and R&D investment intensity. By analyzing the results, CEO’s career background, the relationship with government and the percentage of corporate shares CEO owns have a statically positive relationship with R&D intensity. Then, this paper concluded that: firstly, those creative CEOs who grasp opportunities for innovation and avoid investment risks, contribute to R&D investment, which promotes rapidly development of the firms; secondly, relationship with government should be paid attention to and well made use of.

Key words: Research &, Development（R&D）；R&D investment；intensity of R&D；CEO Characteristics Upper； Echelons Theory