QQ客服 官方微博 反馈留言

	Corporate governance structure, managerial discretion, and the R&D investment in China
	Dong, Jing1; Gou, Yan-nan2
	2010-04
关键词	R&D investment Managerial discretion Corporate governance China
卷号	19
期号	2
DOI	10.1016/j.iref.2009.10.001
页码	180-188
英文摘要	This article studies the influence of corporate governance factors on firm R&D investment in a transitional economy like China. By using the data from the listed companies in China, this article statistically tests the hypotheses on the relations between corporate R&D intensity and managerial discretion of CEOs. independent outside directors, degree of share concentration, share held by the state. and share held by a manager. According to the results, the managerial discretion of CEOs has a significant and negative correlation with the firm R&D investment. The number of the independent outside directors in the board has a positive influence on the R&D investment. And as the shares held by a manager increase, the firm R&D intensity will decrease at first, and then increase along an inverted parabolic curve. All these findings show that the improvement of corporate governance and stock incentive plan. and the cultivation of active and long-term stock investors, may finally lead to the upgrade of corporate innovation capabilities. (C) 2009 Elsevier Inc. All rights reserved.
会议录出版者	ELSEVIER SCIENCE BV
会议录出版地	PO BOX 211, 1000 AE AMSTERDAM, NETHERLANDS
语种	英语
WOS研究方向	Business & Economics
WOS记录号	WOS:000275139200002
内容类型	会议论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/3449]
专题	上海财经大学
作者单位	1.Shanghai Univ Finance & Econ, Sch Int Business Adm, Shanghai 200433, Peoples R China; 2.Fudan Univ, Sch Int Relat & Publ Affairs, Shanghai 200433, Peoples R China
推荐引用方式 GB/T 7714	Dong, Jing,Gou, Yan-nan. Corporate governance structure, managerial discretion, and the R&D investment in China[C]. 见:.

个性服务

查看访问统计

相关权益政策

暂无数据

收藏/分享

除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。