The Effect of Managerial Ownership on Intensity of R&D Investment

被引：0
|
作者：
Li, Dong-Sheng [1 ]
Zhang, Ling-Hong [1 ]
机构：
[1] Univ South China, Sch Econ & Management, Hengyang, Peoples R China
来源：
2015 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE AND ENGINEERING, MSE 2015 | 2015年
关键词：
Managers' Shareholding; Nature of Ownership; Intensity of R&D Investment;
D O I：
暂无
中图分类号：
T [工业技术];
学科分类号：
08 ;
摘要：
In order to study the different nature of ownership how to play a role in the relationship between corporate managerial ownership and the intensity of R&D investment, this paper uses micro data on A-share listed companies in China covering the three - year periods 2009-2011 by Excel 2010 and STATA 11.2. The results are as follows: (a) The intensity of corporate R&D investment has a significant positive correlation with the number of managers' shareholding. (b) In the firms of different nature of business ownership, managerial ownership has a different effect on the intensity of corporate R&D investment. Those show that Chinese enterprises should strengthen the equity incentive for managers to enhance their sense of ownership, thereby reduce the agency costs.
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页码：143 / 150
页数：8
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