| 石峰,谢小春.控股股东持股比例对企业研发投资强度影响的实证分析[J].,2015,16(4):86-90 |
| 控股股东持股比例对企业研发投资强度影响的实证分析 |
| An Empirical Analysis of the Influence of the Proportion of Controlling Shareholders |
| 投稿时间：2015-06-16 |
| DOI： |
| 中文关键词: 利用《中国工业企业数据库》发布的重工业企业调查数据，基于非参数回归、OLS估计以及Tobit估计的方法研究了控股股东持股比例对企业研发投资强度的影响。研究发现：控股股东持股比例对企业研发投资强度的影响存在门槛效应。股权性质（控股资本类型）、企业年龄对企业研发投资强度的影响并不显著，但企业规模对企业研发投资强度带来显著性影响。文章认为，控股股东持股比例大约保持在50%～80%左右更利于企业技术创新 企业间应加强技术创新合作以形成研发投资的规模效应。 |
| English Keywords:proportion of controlling shareholders R&D investment threshold effect |
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| 中文摘要: |
| 利用《中国工业企业数据库》发布的重工业企业调查数据，基于非参数回归、OLS估计以及Tobit估计的方法研究了控股股东持股比例对企业研发投资强度的影响。研究发现：控股股东持股比例对企业研发投资强度的影响存在门槛效应。股权性质（控股资本类型）、企业年龄对企业研发投资强度的影响并不显著，但企业规模对企业研发投资强度带来显著性影响。文章认为，控股股东持股比例大约保持在50%～80%左右更利于企业技术创新；企业间应加强技术创新合作以形成研发投资的规模效应。 |
| English Summary: |
| This paper studies the influence of the proportion of controlling shareholders on the intensity of R & D investment , using heavy industry survey data released by the database of Chinese industrial enterprises based on the methods of Nonparametric regression and OLS and tobit estimation. It is found that the effect of the proportion of controlling shareholders on the intensity of R & D investment has the threshold effect. The nature of ownership and the age of enterprise have no significant effect on the intensity of R & D investment, but the scale of enterprise has a significant impact on the intensity of R & D investment. In the view, the proportion of the controlling shareholder is about to keep 50%～80% more advantageous to the technological innovation of the enterprise, and enterprises should strengthen the technological innovation cooperation to form the scale effect of R & D investment. |
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