中国航空装备制造企业研发投资的驱动因素  

Driving Factors of the R&D Investment of China's Aviation Equipment Manufacturing Enterprises

作　　者：刘振[1] 

机构地区：[1]郑州航空工业管理学院会计与财务研究中心,河南郑州450046

出　　处：《中国科技论坛》2016年第1期93-98,共6页Forum on Science and Technology in China

基　　金：国家社科基金(13BGL051;14BGL037);教育部人文社科项目(11YJA630070);航空科学基金(2013ZG55030);河南省普通高等学校人文社会科学重点研究基地资助项目;2014年度河南省高校科技创新人才(人文社科类)支持项目

摘　　要：经营者报酬与政府规制是驱动中国航空装备制造企业增加研发投资的内外驱动因素。本文以2007—2014年在中国深沪A股上市的中国航空装备制造企业的为样本,运用多元回归分析模型,实证分析了经营者报酬和政府规制对企业研发投资的直接影响关系和交互影响关系。研究发现:经营者持股、经营者年薪和税费返还对企业研发投资具有显著的正向影响关系,政府补贴对企业研发投资具有正向影响关系,但不显著;经营者持股与年薪报酬、政府补贴与税费返还对企业研发投资的交互作用均具有显著的正向影响关系。The executive reward and the government regulation are the internal and external motivation driving factors of the R＆D invest- ment of China＇s aviation equipment manufacturing enterprises. This paper researches the direct and interaction relationship between the ex- ecutive reward and the government regulation by using multiple regression analysis model with the samples from Chinese A-share listed China＇s aviation equipment manufacturing enterprises. Research results suggest that： The executive equity compensation, the executive salary compensation and the tax return have strong positive effect on the R＆D investment; The government subsidies also have positive effect on the R＆D investment, but not significant; The interaction relationships on between the executive equity compensation and salary compensation, between the government subsidies and the tax return affecting the R＆D investment are significantly positive relationship.

关 键 词：经营者报酬 政府规制 研发投资 航空装备制造企业 

分 类 号：F276.42[经济管理—企业管理]