| 基于CEO变动调节效应的高管团队特征对企业研发投资及技术创新绩效的影响研究 |
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| 引用本文： | 杨国忠,杨明珠.基于CEO变动调节效应的高管团队特征对企业研发投资及技术创新绩效的影响研究[J].工业技术经济,2016,35(2):51-59. |
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| 作者姓名： | 杨国忠 杨明珠 |
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| 作者单位： | 中南大学，长沙 410083 |
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| 基金项目： | 国家自然科学基金，湖南省哲学社会科学基金 |
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| 摘 要： | 本文以信息技术业上市公司2011～2014年的数据为样本，运用逐步多元回归分析的方法，通过逐步引入高管团队特征变量、CEO变动变量、CEO变动变量与高管团队特征变量交互项对因变量研发投资及技术创新绩效影响进行了回归分析。结果表明：CEO变动对研发投资和技术创新绩效具有显著的正向相关关系；CEO变动可以部分调节高管团队特征对研发投资和技术创新绩效的影响；高管团队持股与年龄异质性与技术创新绩效显著正相关；两职合一与研发投资显著负相关；任期异质性和教育程度异质性与研发投资显著正相关。
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| 关 键 词： | CEO变动 高管团队特征 研发投资 技术创新绩效 |
The Impact of TMT Characteristics on Firm R&D Investment and Technological Innovation Performance under CEO Turnover |
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| Yang Guozhong,Yang Mingzhu.The Impact of TMT Characteristics on Firm R&D Investment and Technological Innovation Performance under CEO Turnover[J].Industrial Technology & Economy,2016,35(2):51-59. |
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| Authors: | Yang Guozhong Yang Mingzhu |
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| Institution: | Central South University,Changsha 410083 |
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| Abstract: | Based on a database covering IT industry listed companies of 2011-2014 , a stepwise procedure was used to built the model adding the variables gradually . The conclusions show that:CEO turnover has positive effect on firm technological innovation perfor-mance and R&D investment . The CEO turnover partly regulates the effect of TMT characteristics on firm technological innovation perfor-mance and R&D investment . The proportion of TMT ownership has positive effect on firm technological innovation performance . Part-time CEO has positive effect on R&D investment . The heterogeneity of tenure and education level has positive effect on R&D investment . |
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| Keywords: | CEO turnover TMT characteristics R&D investment technological innovation |
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