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      Journal Info
      Organizer:Ministry of Education
      Sponsor:ChongQing University
      Editor-in-chief:赵修渝
      Address:重庆市沙坪坝正街174号
      Post:400030
      Tel:023-65102306
      Email:shekexeb@cpu.edu.cn
      ISSN: 1008-5831
      CN:50-1023/C
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      高新企业股权激励与研发投入的关联性
      赵素君1, 李妍2
      1.上海财经大学 财经研究所, 上海 200433;2.梅西大学 商学院, 新西兰 奥克兰 0632
      摘要:
      当前中国高新企业为了提高竞争力,对企业科技创新的投入逐渐提升。大量的高新企业通过股权激励形式促进企业进行研发投入,提高企业的经济效益。文章以2010-2017年发布股权激励方案的285家高新技术企业作为研究对象,通过对高管持股激励、高管股权配置以及企业研发投入同企业绩效相关性的研究,对股权激励方式、股权激励强度以及股权激励期限与研发投入的关联性进行了分析。在运用相关性以及回归分析得出结果后,可知股权激励可促进研发投入,可强化企业研发投入同企业绩效间的相关性。
      关键词:  高新企业  股权激励方式  股权激励强度  股权激励期限  研发投入
      DOI:10.11835/j.issn.1008-5831.jg.2019.04.001
      分类号:F234.4
      基金项目:
      Relationship between equity incentive and R&D investment in high-tech enterprises
      ZHAO Sujun1, LI Yan2
      1.Institute of Finance and Economics, Shanghai University of Finance and Economics, Shanghai 200433, P. R. China;2.College of Business, Massey University, Auckland 0632, New Zealand
      Abstract:
      At present,in order to improve the competitiveness of China's high and new enterprises,the strength of scientific and technological innovation is gradually improved. A large number of high-tech enterprises promote the investment of R&D through the form of equity incentive,and then enhance the economic efficiency of the enterprises. This paper analyzes the relationship between equity incentive and R&D investment,as well as the relationship between equity incentive,R&D input and enterprise performance by taking the above companies as analysis samples of equity incentive scheme from 2010 to 2017. The relationship among executive stock ownership incentive,executive equity allocation and R&D investment and corporate performance is analyzed. The relationship among equity incentive mode,equity incentive intensity,duration of equity incentive and R&D investment is analyzed. Finally,based on correlation and regression analysis,equity incentive can promote R&D investment,and strengthen the correlation between R&D investment and enterprise performance.
      Key words:  high-tech enterprises  equity incentive mode  equity incentive intensity  duration of equity incentive  R&D investment
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