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[1]洪震,金莉.熊市背景下的高管持股、年薪激励与研发投资——基于2008-2012年中小板上市公司数据的实证检验[J].集美大学学报(哲学社会科学版),2014,17(04):46-54.
 HONG Zhen,JIN Li.A Study of the Relationship between Executive Stock Ownership,Annual Salary and R&D Investment in the Bear Market Based on the Data of SME Board Listed Companies during 2008-2012[J].philosophy&social sciences,2014,17(04):46-54.
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熊市背景下的高管持股、年薪激励与研发投资——基于2008-2012年中小板上市公司数据的实证检验()
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《集美大学学报》(哲学社会科学版)[ISSN:1006-6977/CN:61-1281/TN]

卷:
17
期数:
2014年04期
页码:
46-54
栏目:
出版日期:
2014-12-31

文章信息/Info

Title:
A Study of the Relationship between Executive Stock Ownership,Annual Salary and R&D Investment in the Bear Market Based on the Data of SME Board Listed Companies during 2008-2012
作者:
洪震金莉
(福州大学 阳光学院,福建 福州 350015)
Author(s):
HONG ZhenJIN Li
(Sunshine College, Fuzhou University, Fuzhou 350015, China)
关键词:
研发高管持股年薪中小板熊市
Keywords:
〖R&D executive stock ownership annual salary SME board bear market
分类号:
-
DOI:
-
文献标志码:
A
摘要:
以2008-2012年中小板上市公司为对象,实证分析了熊市背景下高层管理者持股数量、年薪总额和研发投资关系。利用多元回归分析研究发现,在熊市背景下高管持股数量与研发投入显著负相关,高管年薪与研发投入显著正相关。相对于非高科技企业,高管持股对高科技企业研发支出负面影响更显著;股权集中将降低高管持股对研发支出的负面影响。相对于高盈利企业,高管持股对低盈利企业的研发支出负面影响更显著;相对于低成长企业,高管持股对高成长企业研发支出负面影响更显著。
Abstract:
This study, using multiple regression analysis, researched on the relationship between executive stock ownership, annual salary and R&D investment in the bear market, based on the data of SME board listed companies during 2008-2012. The results indicated that executive stock ownership had a strong negative correlation with R&D expenditure, but annual salary had an obvious positive correlation with it. Compared with non-high-tech companies, executive stock ownership of high-tech companies had a stronger negative correlation with R&D expenditure. Ownership concentration would reduce the negative impact of managerial stock ownership on R&D expenditures. Compared with high-profit entities, executive stock ownership of low-profit entities had a negative correlation with R&D expenditure more obviously. Compared with highgrowth enterprises, executive stock ownership of low-growth enterprises had a negative correlation with R&D expenditure more remarkably.

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更新日期/Last Update: 2017-03-12