摘要
以高新技术上市公司的面板数据,实证研究了制度环境对研发投资与企业绩效关系的调节作用。研究结果表明:企业研发投资与企业绩效之间呈显著的正相关关系;金融市场化进程显著正向调节研发投资与企业绩效关系;地方政府干预对研发投资与企业绩效关系的调节作用呈倒"U"型关系。因此,加快金融市场化改革和适度的政府干预有利于研发投资绩效的提升。
The paper is an empirical study of the moderating effects of system environment on the relationship be-tween R＆amp;D investment and enterprise performance by taking China high-tech listed companies′panel data as an example.The results show that R＆amp;D investment has a significant positive relationship with enterprise performance;financial marketization has significant positive moderating effects on the relationship between R＆amp;D investment and enterprise performance;government intervention has inverted U-shaped moderating effects on the relationship be-tween R＆amp;D investment and enterprise performance.We can conclude that the accelerating reform of financial mar-ketization and modest government intervention are beneficial to increasing performance of R＆amp;D investment.
出处
《常州大学学报（社会科学版）》
2014年第6期27-30,共4页
Journal of Changzhou University:Social Science Edition
基金
江苏省高校哲学社会科学基金项目(2013SJB6300003)
关键词
制度环境
研发投资
企业绩效
system environment
R＆amp
D investment
enterprise performance
