治理结构、R&D投入与企业绩效的关系研究

【作者】 陈丽霖；

【导师】 张青；

【作者基本信息】 复旦大学 ， 信息管理与信息系统， 2010， 硕士

【摘要】 科学技术的进步和知识经济的深入发展,以技术创新为先导的战略成为国家经济增长、产业升级和企业成长发展的源泉。作为我国战略性新兴产业,信息技术产业的发展关系着国家安全、肩负着民族产业振兴以及经济结构转型的重任,加大信息技术行业的技术创新投入,加强核心技术的研发,掌握核心技术,强化该产业及企业的技术创新能力已经刻不容缓。对于企业来说,通过持续的R&D投入是企业迎接激烈的市场竞争、获得竞争优势、实现可持续发展的不二路径。本文立足实际,对比分析我国信息技术业企业的R&D投入与国际同行的巨大差距,结合信息技术业R&D投入特点,探索分析影响我国信息技术业的R&D投入水平的根本性原因。追本溯源,企业R&D投入取决于企业相关利益者对企业未来发展的战略导向以及资源配置的组织控制。而作为关系企业所有相关利益者和资源分配的制度安排,治理结构对R&D投入有着战略性的决定作用。本文的主要贡献在于构建完整的“治理结构-R&D投入行为-企业绩效”模型,并以信息技术业上市公司为观测样本对模型进行验证分析。首先,基于对治理结构、组织控制理论、技术创新理论、内生增长理论以及“结构-行为-绩效”模型(SCP)的理论分析,构建了“治理结构、R&D投入和企业绩效”的概念模型；并分别从组织整合(股权结构)、高管决策(激励/监督)和财务承诺(债权人)等三方面界定治理结构的考虑要素,规范性地分析治理结构与R&D投入的内在关系。然后,收集研究对象的观察样本并对数据进行规范的清洗处理,采用相应的数学统计分析方法,探索性地分析治理结构与R&D投入的相互关系,以及R&D投入与企业绩效的关系；研究发现股权结构、高管的监督与激励机制、财务结构等方面,对R&D投入的影响作用。接着,通过对整合模型的实证检验,探索治理结构、R&D投入与企业绩效的结构性关系。实证研究发现,治理结构的特征以及各方面要素的多元情况体现了企业治理特征与R&D投入的复杂关系,也反映了R&D投入在特定的治理结构特征下对企业绩效的影响作用机制。最后,基于实证结果的深入分析和解释,探讨研究成果对管理实践的指导价值,提出了优化治理结构、促进企业R&D投入、提高企业绩效的对策和建议。更多还原

【Abstract】 With advancement of science and technology, technical innovation oriented strategy is the key drive of economic growth, industrial upgrade and enterprise development. As one of emerging strategic industries in China, which matters country security, industrial revivalization and restructure, it is urgent for IT industry to enhance R&D investment, master core technology and upgrade innovative ability. Enterprise is main body for technical innovation, for which continuous R&D investment is an inevitable way to facing fiece competition, obtaining competitive advantage and realizing sustainable development.China’s R&D investment in IT industry is far behind. Based on the importance of R&D investment for obtaining long-term competitive advantage, this assay analyzes the essential cause for the problems of R&D investment in China’s IT industry. At the root of the matter, Enterprise R&D investment highly relies on strategic orientation of future development and organizational control of resources allocation. As the system mechanis of mattering stakeholdes and resources allocating, governance structure plays important role on strategic R&D investment.The main contributions of the assay are to construct "governance structure, R&D investment and performance" model, and to find out the relationship among three aspects subjected by China IT listed companies. First, to construct a conceptual model of "governance structure, R&D investment and performance" based on basic theoretical analysis. The factors of governance structure are defined from organizational integration (stockholder constructure), managerial decision (incentitive & monitor) and financial commission (financial ratio/investor), as well as specifically analyzing the inherent relation between governance structure and R&D investment. Secondly, to analyze the relation among governance structure, R&D investment and performance via quantative method. The results of research find out that diffirent aspects, such as stockholder structure, managerial decision mechanism, financial structure and so on, play different impact on R&D investment. Finally, to explosively analyze the structural relation among governance structure, R&D investment and performance thorough integrated model design.In the end, the essay further discusses the meanings for real management practice based on analysis and explanation of result. Some advice on optimized governance structure good for R&D investment are provided, to further promote the ability of enterprise competition and long-term development.更多还原