效益约束下高管团队特征对企业创新投入的影响——基于HLM模型  

The Impact of TMT Characteristics on Innovation Investment under the Constraint of Firm Performance

作　　者：雷怀英[1] 乔睿蕾 魏亚平[1] 

机构地区：[1]天津工业大学管理学院,天津300387

出　　处：《科技进步与对策》2014年第16期104-111,共8页Science & Technology Progress and Policy

基　　金：国家社科基金项目(12BGL039);教育部人文社会科学研究项目(11YJA630142)

摘　　要：以信息技术业上市公司2010-2012年的数据为样本,对高管团队特征与企业研发投入强度的关系进行了实证研究。运用多层模型将企业划分为不同效益类型,依据效益层和企业层的关系,对高管团队特征与企业研发投入强度进行分层研究。结果表明:1企业效益层次不同,高管团队特征对企业创新投入的影响也不同;2平均年龄居中和偏大的高管团队,其创新决策不受企业效益的影响,而平均年龄偏小的高管团队,其决策行为受企业效益的约束,创新投入随企业效益的不同而不同;3平均持股偏少和偏多的高管团队,其创新决策不受企业效益的影响,而平均持股比例居中的高管团队,其决策行为受企业效益的约束,创新投入随企业效益的不同而不同。This paper discussed the relationship between TMT characteristics and the R&D strength of IT industry listed companies of 2010-2012.All these data are divided into two levels:the level of firm performances and enterprises using the HLM so as to study the relationship more precisely.The conclusions show that:First,the relationship varies when the level of firm performance is different.Secondly,in regard to those firms which TMT average age is younger,the deci-sion making is under the constraint of firm performance,that is to say,innovation investment differs when beneficial re-sult is different.As to the other firms,innovation investment has no relationship with firm performance.The third point, when the average proportion of TMT stockholding is lower or higher,the firm performance does not matters to innovation investment decisions.But when the average proportion of TMT stockholding is neither high nor low,the firm performance is of great importance to innovation investment decision.

关 键 词：高管团队特征 企业效益 多层模型 企业创新投入 

分 类 号：F273.1[经济管理—企业管理]