股权结构与研发投入的关系研究
毕业论文关键词：股权结构；研发投入；创业板上市公司
Study on the Relationship between Ownership Structure and R&D Investment——Evidence from GEM Listed Companies
Abstract： Increasing R&D investment is vitally important in enhancing enterprise’s core competitiveness and improving enterprise’s future value, particularly in GEM listed companies. Ownership structure is the fundamental framwork of corporate governance and has a great influence on R&D investment. However, due to different research perspectives, different research samples and different index selection, scholars at home and abroad have disparate conclusions. The purpose of this paper is to take GEM listed companies in the period of 2012-2015 as samples and analyze the relationship between ownership structure and R&D investment. Empirical evidence supports the following conclusions. In GEM listed companies, the relationship between the concentration of ownership and R&D investment is the “U” type; Equity balance promotes enterprise R&D investment; Institutional ownership has played a positive role in increasing R&D investment; the relationship between ownership property and R&D investment is not significant.
Key words: Ownership Structure；R&D Investment；GEM Listed Company
目 录
摘要 1
关键词 1
Abstract 1
Key words 1
一、 引言 1
二、文献综述 2
（一）股权集中度与研发投入 2
（二）机构持股与研发投入 4
（三）股权性质与研发投入 4
（四）国内外研究述评 5
三、理论分析与研究假设 5
（一）股权集中度与研发投入 5
（二）股权制衡与研发投入 5
（三）机构投资者与研发投入 6
（四）股权性质与研发投入 6
四、研究设计 6
（一）数据来源 6
（二）变量选择 6
（三）实证模型 7
五、实证结果与分析 7
（一）描述性统计分析 7
（二）相关性分析 9
（三）多元回归分析及结果 9
（四）稳健性检验 11
吹冰、结论与政策建议 12
致谢 12
参考文献 13
股权结构与研发投入的关系研究——以创业板上市公司为例一、引言
在科技水平日新月异和经济全球化的今天，产品的生命周期在不断缩短，国际和国内市场上的竞争都在日益加剧，企业若想在竞争如火如荼的市场取得一席之地，拥有能保持长期竞争优势的核心竞争力是必不可少的。没有核心竞争力，仍然依靠廉价劳动力以及资源消耗的企业将会快速被市场淘汰。那么企业如何获得核心竞争力呢？无疑产品与技术创新是关键。
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