| 技术创新对股权结构与企业绩效的中介效应 |
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| 引用本文： | 秦德智,邵慧敏,苏琳淳.技术创新对股权结构与企业绩效的中介效应[J].科技进步与对策,2019,36(16):77-83. |
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| 作者姓名： | 秦德智 邵慧敏 苏琳淳 |
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| 作者单位： | （1.云南大学 工商管理与旅游管理学院，云南 昆明 65009；2.云南师范大学 经济与管理学院,云南 昆明 650500） |
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| 基金项目： | 国家自然科学基金项目（71763032）；云南省省院省校教育合作项目（SYSX201708）；云南省哲学社会科学专项基金项目（YB2017109）；云南省社会科学普及规划项目(SKPJ201808)；云南省哲学社会科学规划项目(ZD201810) |
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| 摘 要： | 基于2013-2017年我国277家创业板上市制造业企业数据，采用中介效应检验方法分析股权结构、技术创新与企业绩效三者间的相互关系。结果表明：①第一大股东持股比例与技术创新、企业绩效间均呈显著正相关关系；②股权集中度与技术创新、企业绩效间均呈显著正相关关系；③在股权适度集中的基础上，股权制衡度与技术创新和企业绩效均呈显著正相关关系；④技术创新部分中介了股权结构对企业绩效的影响。研究结果有助于厘清股权结构、技术创新与企业绩效三者间的相互关系，对于我国企业自主创新能力提升及企业绩效可持续增长具有重要意义。
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| 关 键 词： | 技术创新 股权结构 企业绩效 中介效应 |
| 收稿时间： | 2019-01-21 |
The Mediating Effect of Technological Innovation on Ownership Structure and Enterprise Performance |
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| Qin Dezhi,Shao Huimin,Sun Linchun.The Mediating Effect of Technological Innovation on Ownership Structure and Enterprise Performance[J].Science & Technology Progress and Policy,2019,36(16):77-83. |
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| Authors: | Qin Dezhi Shao Huimin Sun Linchun |
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| Institution: | (1.School of Economics and Management, Yunnan Normal University, Kunming 650500,China；2.School of Business and Tourism, Yunnan University, Kunming 650091,China) |
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| Abstract: | Selecting the ownership structure, technological innovation and corporate performance of 277 GEM listed manufacturing companies in China from 2013 to 2017as the research object. Introducing technological innovation as the intermediary variable, respectively use the largest shareholder’s shareholding ratio, ownership concentration and shareholding balance to measure the ownership structure. The following conclusions are obtained through empirical research: ①There is a significant positive correlation between the shareholding ratio of the largest shareholder and technological innovation and enterprise performance; ② Significant positive correlation between ownership concentration and technological innovation and enterprise performance.③On the basis of moderate concentration of ownership structure, the degree of ownership balance has a significant positive correlation with technological innovation and firm performance;④Technological innovation partially mediates the influence of ownership structure on firm performance. The results clarifying the relationship among ownership structure, technological innovation, and corporate performance has important theoretical and practical implications for the improvement of independent innovation capabilities and sustainable growth of corporate performance. |
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| Keywords: | Technological Innovation Ownership Structure Enterprise Performance The Mediation Effect |
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