摘要
在国有企业引入非国有资本进行混合所有制改革的制度背景下,本文手工收集了制造业国有上市公司2008—2016年非国有股东的股份持有与人员委派等相关数据,从股权结构和高层治理两个层面系统研究了非国有股东参与对国有企业创新绩效的影响。研究结果表明,非国有股东股权结构参与能有效提升企业的创新绩效,而非国有股东高层治理参与在非国有股东股权结构参与促进企业创新绩效的作用机制中具有中介效应。进一步研究揭示,非国有股东参与对国有企业创新绩效的促进效应主要来源于经理人观,而非政治观。
Based on the background of the reform of mixed ownership of the introduction of non-state-owned capital into state-owned enterprises,it collected the data on the shareholding and personnel assignments of non-state-owned shareholders in state-owned listed manufacturing companies from 2008 to 2016,studied the impact of non-state-owned shareholder participation on the innovation performance of state-owned enterprises from two levels of shareholding structure and high-level governance.The research results show that the participation of non-state-owned shareholders in the ownership structure can effectively enhance the innovation performance of enterprises,and the high-level governance participation of non-state-owned shareholders plays a mediating role in the mechanism of the participation of non-state-owned shareholders in the ownership structure to promote the innovation performance of enterprises.Further research reveals that the promotion effect of the participation of non-state-owned shareholders on the innovation performance of state-owned enterprises mainly comes from the managerial view,not the political view.
作者
向东
余玉苗
XIANG Dong;YU Yu-miao(Economics and Management School,Wuhan University,Wuhan 430072,China)
出处
《研究与发展管理》
CSSCI
北大核心
2020年第5期152-165,共14页
R&D Management
基金
国家自然科学基金面上项目“审计契约压力传导对审计质量的影响及契约参与方应对策略研究”(71672131)。
关键词
非国有股东
高层治理
创新绩效
中介效应
经理人观
non-state-owned shareholders
high-level governance
innovation performance
mediating effect
managerial view
作者简介
向东(1970—),男,博士研究生,研究方向为资本市场财务会计、公司治理;通信作者:余玉苗(1965—),男,博士,教授,研究方向为资本市场财务会计、公司治理。
