R&D投资、企业家冒险倾向与企业创新绩效——基于不同产权性质上市公司的实证研究  

R&D Investment,Entrepreneurs′ Risk Taking Propensity and Firm′s Innovation Performance

作　　者：王素莲[1] 赵弈超 Wang Sulian;Zhao Yichao(School of Economics and Management,Shanxi University,Taiyuan 030006,China)

机构地区：[1]山西大学经济与管理学院,山西太原030006

出　　处：《经济与管理》2018年第6期45-50,共6页Economy and Management

基　　金：山西省软科学项目(2016041001-1)

摘　　要：基于企业资源基础理论和高阶理论,以沪深两市中小企业板193家上市公司共计515个研究样本,运用分层回归分析模型检验R&D投资、企业家冒险倾向、公司创新绩效三者的内在关联,并从产权属性视角对家族企业和国有企业的技术创新进行分组研究。全样本研究结果表明,R&D投资强度、企业家冒险倾向对公司创新绩效呈正向影响,企业家冒险倾向是R&D投资与公司创新绩效关系的半调节变量,正向调节R&D投资与公司创新绩效的关系。分组检验结果表明,企业家冒险倾向对研发投入与创新绩效关系的调节作用在国有企业和家族企业之间存在显著差异。Based on enterprise resource-based theory and upper echelons theory,this paper uses hierarchical regression modelanalyses the internal relationship between R＆D investment, entrepreneurs＇ risk taking propensity and firm＇ s innovation performance by using a total of 515 samples from 193 listed companies in the SME board of Shanghai and Shenzhen,andthen examines the technological innovation of family enterprises and state-owned enterprises from the perspective of propertyrights. The analysis of the full sample shows that R＆D intensity and entrepreneurs＇ risk taking propensity have a positiveimpact on the firm＇s innovation performance,and entrepreneurs＇ risk taking propensity is a semi-moderator in the relationshipbetween R＆D investment and firm＇s innovation performance,positively moderating the relationship between R＆D investmentand firm＇ s innovation performance. The results of the group test indicate that the moderating effect of entrepreneurs＇ risktaking propensity on the relationship between R＆D investment and firm＇ s innovation performance is significantly differentbetween state-owned enterprises and family enterprises.

关 键 词：R&D投资 企业家冒险倾向 企业创新绩效 产权性质 

分 类 号：F273.1[经济管理—企业管理]