信息技术业内部控制对技术创新的影响——基于股权激励的调节效应  

Influence of Internal Control on Technological Innovation in IT Enterprises:Adjustment Effect Based on Equity Incentive

作　　者：祝新[1,2] 高海宁 ZHU Xin;GAO Haining(School of Economics and Management, Guangxi University of Science and Technology, Liuzhou 545006, China;Guangxi Industrial High-quality Development Research Center, Liuzhou 545006, China)

机构地区：[1]广西科技大学经济与管理学院,广西柳州545006 [2]广西工业高质量发展研究中心,广西柳州545006

出　　处：《南京财经大学学报》2021年第3期36-47,共12页Journal of Nanjing University of Finance and Economics

基　　金：广西科技大学经济与管理学院研究生科研创新项目“信息技术业股权激励对企业绩效的影响研究”(GKJG201908),广西高校人文社会科学重点研究基地基金资助。

摘　　要：以2016—2018年沪深两市A股实施股权激励方案的信息技术业上市公司为样本,通过建立调节的中介模型,实证分析在创新引领发展的背景下,内部控制对企业创新绩效的影响机制。研究发现:(1)内部控制对技术创新的影响呈倒“U”型趋势,并进一步影响企业绩效;(2)高管股权激励在内部控制对技术创新的影响中起正向调节作用;(3)内部控制对技术创新的影响在不同研发水平的企业中存在差异,具体表现为:对于高研发水平企业,内部控制促进技术创新发展;对于低研发水平企业,内部控制对技术创新的影响呈倒“U”型趋势。研究表明,要实现企业内部控制的积极治理效应,需结合企业自身的研发水平,合理管控风险,促进企业技术创新发展。This paper selects the listed companies of information technology industry which implement equity incentive in Shanghai and Shenzhen stock markets from 2016 to 2018 as samples,and empirically analyzes the influence mechanism of internal control on enterprise innovation performance under the background of innovation leading development by establishing an intermediary model of adjustment.The results show the following:(1)The impact of internal control on technological innovation presents an inverted“U”shape,which further affects enterprise performance.(2)Executive equity incentive plays a positive moderating role in the impact of internal control on technological innovation.(3)The impact of internal control on technological innovation is different among enterprises with different R&D levels.The specific performance is that internal control promotes technological innovation and developmentin high R&D level enterprises while internal control has a“U”-shaped influence on technological innovation in low R&D level enterprises.The research shows that in order to achieve the positive governance effect of internal control,it is necessary to reasonably control the risk to promote the development of technological innovation,pay attention to the long-term effect of equity incentive,and combine with the enterprise's own R&D level.

关 键 词：内部控制 技术创新 股权激励 企业绩效 倒“U”型 

分 类 号：F276.44[经济管理—企业管理] F275[经济管理—国民经济]