摘要
运用高新技术上市公司2006-2010年面板数据,实证研究了大股东控制、高管持股与研发投资强度的关系。公司研发投资强度与高管持股显著正相关;国有性质上市公司显著负向调节公司研发投资强度与高管持股之间关系;第一大股东持股比例显著负向调节公司研发投资强度与高管持股之间关系。因此,我国国有上市公司实施高管股权激励方案应该考虑大股东控制的影响。
The paper is an empirical research on relationship among the Major Shareholder Controlling, Executive Shareholding and R＆D Intensity based on panel data of listed companies of high and new technology from 2006 to 2010. The relationship between R＆D intensity and the shareholding ratio of executives is positive correlation. State - owned listed companies have significantly negative effect on the relationship between R＆D intensity of companies and the shareholding ratio of executives. The shareholding ratio of the first major stockholder has significant effect on the relationship between R＆D intensity of companies and the shareholding ratio of executives. So, we should take into consideration of impact of controlling of big - shareholder when we implement the incentive scheme of executives stock right in state -owned listed companies.
出处
《常州大学学报（社会科学版）》
2013年第3期36-40,共5页
Journal of Changzhou University:Social Science Edition
基金
国家社科基金项目(12BGL104)
常州大学青年发展基金项目(11sk0703)
关键词
大股东控制
高管持股
研发投资强度
Major Stockholder Controlling
Executive Stockholding
R＆D Investment
