董事会结构与技术创新绩效的关联性研究——来自中国中小上市公司的经验证据  

Research on the Relationship Between Structure of the Board and Technology Innovation Performance——Empirical Research Based on Chinese Small and Medium Listed Companies

作　　者：徐向艺[1] 汤业国[1,2] 

机构地区：[1]山东大学管理学院 [2]海信集团有限公司

出　　处：《经济与管理研究》2013年第2期35-41,共7页Research on Economics and Management

基　　金：山东省自然科学基金项目"山东省上市公司治理对技术创新的促进效应研究"(ZR2012GM004);山东省社科规划项目"高管激励契约配置与技术创新绩效的动态关联性研究:以山东省上市公司为例"(12DGLJ01)

摘　　要：结构合理且运作良好的董事会应当以公司的长远发展为主旨,更加偏好于公司成长的科学决策。因此,对于技术创新这类长期投资,中小上市公司的董事会治理也起到较为显著的作用。本文运用2007～2010年中国中小上市公司面板数据,对董事会结构与技术创新水平的关联性进行实证检验得出,董事会规模与技术创新投入与产出均具有显著的倒U型关系,董事会独立性、两职合一与技术创新产出之间存在显著的正相关关系。因此,中小上市公司应保持合理董事会规模,在董事会多样化与决策效率之间找寻平衡点,同时加强董事会独立性,并强化独立董事监督的积极性。The well - structured and rational board should pay attention to the companies＇ long - term development And the boards of Small and Medium Listed Companies will take obvious effects on Technology Innovation. We adopt the Panel Data of the small and medium Listed Companies＇ during the period of 2007 - 2010, and find that the structure of board has obvious effect on technology innovation performance. Specifically speaking, there is an invested U - shape rela- tionship occurs between the size of board and technology innovation performance, including input and output. And the inde- pendence of the board and two duty synergetic have positive effects on technology innovation output

关 键 词：董事会结构 技术创新绩效 中小上市公司 

分 类 号：F271.5[经济管理—企业管理]