市场化进程、去家族化与研发投入——基于中国高新行业上市家族企业的实证研究  

Marketization,Family-exit and R&D Investment:Empirical Research Based on Listed Family Firms in China′s High-tech Industry

作　　者：余恕莲[1] 王藤燕 

机构地区：[1]对外经济贸易大学国际商学院,北京100029

出　　处：《技术经济》2016年第9期27-34,共8页Journal of Technology Economics

基　　金：国家自然科学基金面上项目"家族异质性;制度空隙与企业创新"(71572035)

摘　　要：追索家族企业的动态发展轨迹,并利用2005—2014年中国高科技行业中家族上市企业的数据,探讨了家族企业去家族化对企业研发投入的影响以及地区市场化进程的调节作用。研究结果表明:家族企业引入外部经理人和变更实际控制人可以显著促进其研发投入的增加;在市场化进程较慢的地区,变更实际控制人对家族企业研发投入的正向影响更大;引入外部经理人对家族企业研发投入增加的促进作用在不同地区没有显著差异。Based on the development process of family firms,this paper empirically studies the effect of family exit of family firm on R＆D in vestment and the regulating effect of marketization by the data of Chinese listed family firms in high-tech industry during 2005-2014. The result shows as follows：introducing professional managers and changing actual controllers could promote the increasing of R＆D investment;changing actual controllers has more influences on family firms＇ R＆D investment in area with fast marketization; there is no difference in the effect of in- troducing professional managers on R＆D investment in areas with different marketization process

关 键 词：家族企业 市场化 去家族化 研发投入 

分 类 号：F276.5[经济管理—企业管理]