摘要
以中国2009—2018年中小板上市公司为样本,实证分析高管学术背景对企业创新投入的影响,并探讨高管学术背景对企业创新投入的影响是否会受到地区市场化进程的制约。研究结果表明:高管具有学术背景以及高管学术背景的比例能够显著推动企业创新投入;在市场化进程越低的地区,高管学术背景对创新投入的推动效应越明显。拓展研究发现:在市场化进程越低的地区,相比于一般职位的高管,CEO的学术背景对创新投入的推动力更强。研究结论既印证了学术型社会资本作为一种非制度性资源在企业创新中发挥着重要作用,又体现了高阶梯队理论与社会资本理论的交叉融合。为政府继续深化市场化进程和实施创新驱动发展战略提供了微观经验支持。
By taking listed companies in China’s small and medium enterprise board from 2009 to 2018 as samples,the article empirically analyzes the impact of senior managers’academic background on the innovation investment of enterprises,and explores whether the impact is restricted by regional marketization process.The results show that senior managers with academic background and the proportion of executives with academic background can significantly promote enterprise innovation investment;the lower the regional marketization process level,the stronger the promotion effect of the managers’academic background on innovation investment.Further research shows that in regions with lower marketization process,compared with other senior managers,the academic background of CEO has stronger impetus on enterprise innovation investment.Research results not only prove that as a kind of non-institutional resource,academic social capital plays an important role in enterprise innovation,but also reflect the integration of upper echelons theory and the social capital theory.The conclusions provide micro empirical support for the Chinese government in deepening marketization process and implementing innovation-driven development strategy.
作者
何旭
马如飞
HE Xu;MA Ru-fei(School of Business,Macao University of Science and Technology,Macao 999078,China;School of Finance and Investment,Guangdong University of Finance,Guangzhou 510521,China)
出处
《云南财经大学学报》
CSSCI
北大核心
2020年第10期88-100,共13页
Journal of Yunnan University of Finance and Economics
基金
国家自然科学基金面上项目“流动性囤积视角下的货币政策传导问题:理论、实证与政策研究”(71973035)
关键词
学术背景
创新投入
市场化进程
职位特征
Academic Background
Innovation Investment
Marketization Process
Job Characteristics
作者简介
何旭(1984-),女,广东广州人,广东金融学院金融与投资学院讲师,澳门科技大学商学院博士研究生,研究方向为公司金融、高管特征;马如飞(1980-),男,山东聊城人,澳门科技大学商学院副教授,博士生导师,研究方向为公司金融。
