董事会特征对科技型企业研发投入的影响研究

Research on the Influence of Board Characteristics on R&D Investment of Science and Technology Enterprises

摘要:

文章基于2014-2019年388个中国科技型上市公司的数据，采用多元线性回归分析方法，研究董事会特征对科技型企业研发投入的影响。研究结果表明：董事会成员的平均受教育程度、硕士教育程度以上占比、技术背景董事人数占比、技术董事薪酬激励、独立董事占比等对研发投入有显著正向影响：董事会中女性董事占比对研发投入存在显著负向影响；而青年董事占比、董事会技术董事持股比例对研发投入影响不显著。文章研究丰富了科技型企业董事会特征对研发投入的影响方面的研究文献，对我国贯彻落实创新驱动发展战略提供微观的经验支撑。

Abstract:

Based on the data of 388 Chinese science and technology listed companies from 2014 to 2019, this paper uses multiple linear regression analysis to study the influence of board characteristics on R&D investment of science and technology enterprises. The results show that the average education level of board members, the proportion of master education, the proportion of technical background directors, the salary incentive of technical directors and the proportion of independent directors have a significant positive impact on R&D investment, the proportion of female directors has a significant negative impact on R&D investment; while the proportion of young directors and the proportion of technical directors of the board have no significant impact on R&D investment. This paper enriches the research literature on the impact of board characteristics of science and technology enterprises on R&D investment, and provides micro empirical support for China 's implementation of innovation-driven development strategy.