中小企业股权集中度、产品市场竞争与企业创新可持续性

Abstract
Figure/Table
References
Related Citation (3)

Download: PDF (1044 KB) HTML (1 KB)
Export: BibTeX | EndNote (RIS)

Abstract Based on SMEs in China,this paper studied the relationship between equity concentration ratio and the persistence of firm innovation,and the moderating effect of product market competition and the ownership.We find that:Higher equity concentration ratio is not conducive to the persistence of firm innovation;The more intense product market competition is,the stronger negative impact of equity concentration ratio on the persistence of firm innovation is;Moreover,equity concentration ratio has stronger negative impact on the persistence of firm innovation in private enterprises than that in non-private enterprises.

Key words： Equity concentration ratio Product market competition Ownership The persistence of firm innovation

Received: 04 August 2015

PACS:

F270

	Service

	E-mail this article
	Add to my bookshelf
	Add to citation manager
	E-mail Alert
	RSS
	Articles by authors
	Li Jian
	Yang Beibei
	Pan Zhen

Cite this article:

Li Jian,Yang Beibei,Pan Zhen. Equity Concentration Ratio of SMEs,Product Market Competition and the Persistence of Firm Innovation[J]. , 2016, 0(5): 59-64.

URL:

http://www.zgkjlt.org.cn/EN/ OR http://www.zgkjlt.org.cn/EN/Y2016/V0/I5/59

[1] 刘建新,刘建敏,阿梅,刘北辰.中小企业技术创新的可持续发展研究[J].内蒙古科技与经济,2006(1):60-61.
[2]程国平,戴松高,宁磊.企业自主创新的可持续性瓶颈及对策研究[J].当代经理人,2006(21):740-741.
[3]程国平,宁磊.企业自主创新的可持续性研究[J],科技进步与对策,2007(10):86-88.
[4]BROWN J,PETERSEN B.“Cash holdings and R&D smoothing”[J].Journal of corporate finance,2011,17(3):694-709.
[5]鞠晓生,卢荻,虞义华.融资约束、营运资本管理与企业创新可持续性[J].经济研究,2013(1):4-16.
[6]杨建君,盛锁.股权结构对企业技术创新投入影响的实证研究[J].科学学研究,2007(4):787-792.
[7]梁冰.我国中小企业发展及融资状况调查报告[J].金融研究,2005(5):120-138.
[8]郑梅莲,何晓婷.股权集中度、企业规模、产权性质与企业市场价值的实证研究——基于投资者视角[J].经营与管理,2014(11):102-106.
[9]汤临佳,池仁勇,骆秀娟.中小企业创新政策前沿[J].科学学与科学技术管理,2013(8):138-147.
[10]宋成伟.我国中小企业创新发展的若干思考[J].技术经济与管理研究,2008(2):27-29.
[11]EASTERBROOK F H.Two agency-cost explanations of dividends[J].American economic review,1984,74(4):650-659.
[12]王磊,袁进明,王国磊.产品市场竞争、股权集中与现金股利政策——基于中国上市公司的实证分析[J].金融市场,2013(5):64-70.
[13]JONES O,MACPHERSON A.Inter-organizational learning and strategic in SMEs:extending the 41 framework[J].Long range planning,2006,39(2):155-175.
[14]张敏,张胜,申慧慧,王成方.政治关联与信贷资源配置效率—来自我国民营上市公司的经验证据[J].管理世界,2010(11):143-153.
[15]廖冠民,沈红波.国有企业的政策性负担:动因、后果及治理[J].中国工业经济,2014(6):96-108.
[16]万丛颖,张楠楠.大股东的治理与掏空——基于股权结构调节效应的分析[J].财经问题研究,2013(7):42-49.
[17]刘运国,吴小云.终极控制人、金字塔控制与控股股东的“掏空”行为研究[J].管理学报,2009(12):1661-1669.
[18]李靖,贺小刚.股权集中度与创新绩效:国有企业与家族企业的比较研究[J].商业经济与管理,2012(10):40-51.
[19]姜付秀,屈耀辉,陆正飞和李焰.产品市场竞争与资本结构动态调整[J].经济研究,2008(4):99-110.
[20]李健,陈传明.企业家政治关联、所有制与企业债务期限结构——基于转型经济制度背景的实证研究[J].金融研究,2013(3):157-169.