女性高管对企业研发创新的影响：一个有调节的中介模型

企业创新是企业持续发展的内在动力,也是推动国家产业升级、建设创新型国家的重要举措.近年来女性高管比重不断提高,学术界开始关注女性高管对企业研发创新的影响.以沪深两市2010—2018年A股上市公司为研究样本,实证检验女性高管对企业研发创新投入的影响.结果表明:女性高管负向影响企业研发创新投入;其负向作用以风险承担为中介实现;企业所有制调节了中介过程的后半段路径.

The Influence of Female Executives on Corporates' R&D Innovation: A moderated intermediary model

Enterprise innovation is the internal driving force for the sustainable development of enterprises, and it is also an important way to promote national industrial upgrading and build an innovative country. In recent years, the proportion of female executives has been increasing gradually, and the academic circle has begun to pay attention to the influence of female executives on enterprise R&D and innovation. Taking A-share listed companies in Shanghai and Shenzhen stock exchanges from 2010 to 2018 as research samples, empirically tests the impact of female executives on enterprises'' R&D and innovation investment. The results show that female executives negatively affected enterprises'' R&D and innovation investment. Its negative effect is realized by taking risk as intermediary; Enterprise ownership regulates the second half of the intermediary process.