企业R&D投入影响因素——基于企业生命周期视角的实证检验

以中国A股主板制造业上市公司为样本，实证检验生命周期不同阶段企业规模、债务水平、国有控股、股权集中度、管理层持股、董事长与总经理两职设置状况与R&D投入的关系，研究结果证实：大企业比小企业更有利于R&D投入；负债对R&D投入具有制约作用；股权集中有利于R&D投入。国有控股、管理层持股、董事长与总经理两职设置状况与R&D投入的关系受企业生命周期的调节，在企业成长和成熟阶段，国有控股不利于R&D投入，而在企业衰退阶段，国有控股有利于R&D投入；在企业成熟阶段，管理层股权激励不利于R&D投入，而在衰退阶段，管理层股权激励对R&D投入有促进作用；在企业成长阶段，“两职”合一可能有利于R&D投入，在成熟和衰退阶段，“两职”分离更有利于R&D投入。

Driving Factors Research on Intensive Land Use of Light and Heavy Industrial Enterprises in China

Indu strial land is the important carrier of regional economic development,while impr oving the level of intensive land use is an effective way to alleviate the contr adiction between supply and demand of industrial land,and to ensure the developm ent of industrial economy.The research will analyze influencing factors of inten sive land use between light and heavy industry on the micro enterprise level.Usi ng statistical analysis and measurement method,the systematic research of indust rial land intensive utilization and influencing factors among five typical provi nces of China in 1999-2009.And it examines the enterprise property,the input fac tors,social economic factors and locational factors impact on intensive land u se of industrial enterprises.Results indicated that:①uneven phenomenon exists w ithin the light and heavy industries and intensive land use degree in heavy indu stries is obviously higher than that of light industry enterprises;②the influen cing factors are differently between light and heavy industry,and the labor,land prices,PGDP and inland port city property impact light industry intensive land use significantly,otherwise research and development,subsidies factors,urban sca le,and the largest port distance,and the enterprise scale factor is relatively m ore significant to heavy industry intensive land use.