同业参照落差、竞争压力与企业研发行为  

Peer Reference Gap,Competitive Pressure and Corporate R&D Investment

作　　者：王芳 WANG Fang(School of Business and Management,Shanghai International Studies University,Shanghai 201620,China)

机构地区：[1]上海外国语大学国际工商管理学院,上海201620

出　　处：《上海管理科学》2021年第3期81-88,共8页Shanghai Management Science

摘　　要：以契约参照点理论和行为决策理论为基础,基于中国上市公司2007—2016年的样本,实证探究了同业参照落差、竞争压力与企业研发行为三者之间的关系。研究结果表明:(1)上一期同业参照落差越大,本期企业研发投入越小;(2)竞争压力越大,企业研发投入越大;(3)竞争压力对同业参照落差与企业研发投入之间的负向关系具有弱化作用。进一步研究发现,竞争压力的弱化作用在国有企业和成熟期企业中更加显著。在考虑了内生性问题之后,上述研究结论依旧成立。Based on the contract reference point theory and behavioral decision theory,takes the data of listed companies in China from 2007 to 2016 and empirically analyzes the relationship among peer reference gap,competitive pressure and corporate R&D investment.The results show that:(1)the greater peer reference gap of CEO is in the previous year,the lower corporate R&D investment is in this year;(2)the greater competitive pressure,the greater corporate R&D investment;(3)competitive pressure makes a weakening effect on the relationship between the peer reference gap and corporate R&D investment.Further research found that the weakening effect of competitive pressure is more significant in state-owned enterprises and mature enterprises.After considering the endogenous problem,the above findings are still established.

关 键 词：契约参照点理论 行为决策理论 企业研发 

分 类 号：F276[经济管理—企业管理]