创业团队薪酬、股权特征与企业研发强度:基于创业板上市公司的研究  

Entrepreneurial Team Compensation,Ownership Traits and R&D Intensity:the Study of Public Enterprises of Growth Enterprises Market

作　　者：姚振华[1] 

机构地区：[1]广东金融学院,广东广州510521

出　　处：《科技管理研究》2014年第15期97-101,143,共6页Science and Technology Management Research

基　　金：广东省自然科学基金项目"创业板企业高管团队职业背景;股权结构与产品研发绩效"(S2011040000813)

摘　　要：以中国创业板上市公司的792个创业团队为样本,探索创业团队薪酬股权特征与研发强度的关系。研究发现,创业板企业研发强度与毛利率和首发市盈率显著正相关;创业团队平均年薪与研发费用占销售额/总资产比例、员工人均研发费用显著正相关;创业团队平均持股数量与研发费用占销售额/净利润比例、员工人均研发费用显著负相关;创业团队年薪异质性与4个研发强度变量显著负相关;创业团队股权异质性与研发费用占销售额/总资产比例显著负相关。This study sample included 792 entrepreneurial teams （ET）of public enterprises of growth enterprises market, and explored the relationship between team compensation and stock ownership traits with R＆amp;D intensity.The study found：R＆amp;D intensity was significantly related with gross profit rate and IPO P/E;ET average compensation and stock ownership traits had significant effect on R＆amp;D intensity;ET compensation heterogeneity was negatively related with four R＆amp;D intensity indicators,and ET stock ownership heterogeneity was negatively related with R＆amp;D intensity.

关 键 词：创业团队 薪酬 股权 研发强度 

分 类 号：F272.92[经济管理—企业管理] F273.1[经济管理—国民经济] F832.51