自主研发、合作研发与企业盈利绩效:兼论独立董事的调节作用  

Self R&D, Cooperative R&D, and Firm Profitability:The Moderating Effect of Independent Directors

作　　者：龙镇辉 楼润平[2] 孙鹏[2] LONG Zhenhui LOU Runping SUN Peng(School of Economics ＆ Management, 2. School of Economics ＆ Management, Zhaoqing University, Zhaoqing 526061, China Hainan University, Haikou 570228, China)

机构地区：[1]肇庆学院经济与管理学院,广东肇庆526061 [2]海南大学经济与管理学院,海南海口570228

出　　处：《科技管理研究》2017年第11期123-128,共6页Science and Technology Management Research

基　　金：广东省科技计划重点项目"肇庆高端产业科技服务智慧超市"(2013B040100008);广东省哲学社会科学"十二五"规划项目"科技型中小企业协同创新服务平台建设研究--以肇庆高新区为例"(GD13XGL22);海南省自然科学基金项目"信息技术促进企业创新的作用机理及效率提升研究"(20167252);广东省社会科学联合会项目"深化改革进程中重点;难点和热点问题系列研究"(SL14SKT29)

摘　　要：自主研发、模仿和合作研发是企业获取新技术的主要方式。通过使用来自微观企业的问卷调查数据,通过控制公司治理、产权结构、企业规模、企业年龄、企业财务特征等相关变量,实证分析比较自主研发、模仿和合作研发对企业盈利绩效的影响。研究发现:模仿企业的盈利绩效优于合作研发企业,合作研发企业的盈利绩效优于自主研发企业;独立董事正向调节模仿和自主研发与企业盈利绩效的关系。研究结果为政府制定研发创新政策、为商业企业制定研发创新战略提供经验证据参考。Self R＆D, imitation, and cooperative R＆D are the main sources for finns to3 obtain new technology. By using survey data set of finns and controlling variables of interest （ such as corporate governance, property right structure, finn size, finn age, corporate financial characteristics, et al. ） , this paper empirically compares the influence ofselfR＆D, imitation, and corporative R＆D on finn profitability. This paper finds that imitation finns＇ profitability is superior to cooperative R＆D firms, and cooperative R＆D finns＇ profitability is superior to self R＆D firms. This paper also empirically studies the moderating effect of independent directors. We find that independent director size significantly and positively moderates the relationship between imitation and finn profitability, and so does the self R＆D and finn profitability. The results of multiple robust tests further support the research hypotheses. This research provides empirical evidence reference for government＇ s R＆D and innovation policy, and also for finns＇ R＆D and innovation strategy.

关 键 词：自主研发 模仿 合作研发 独立董事 盈利绩效 调节作用 

分 类 号：F271[经济管理—企业管理] F273.1[经济管理—国民经济]