CAJ | 학술논문

以信息技术业上市公司2010-2012年的数据为样本，对高管团队特征与企业研发投入强度的关系进行了实证研究。运用多层模型将企业划分为不同效益类型，依据效益层和企业层的关系，对高管团队特征与企业研发投入强度进行分层研究。结果表明：①企业效益层次不同，高管团队特征对企业创新投入的影响也不同；②平均年龄居中和偏大的高管团队，其创新决策不受企业效益的影响，而平均年龄偏小的高管团队，其决策行为受企业效益的约束，创新投入随企业效益的不同而不同；③平均持股偏少和偏多的高管团队，其创新决策不受企业效益的影响，而平均持股比例居中的高管团队，其决策行为受企业效益的约束，创新投入随企业效益的不同而不同。
이신식기술업상시공사2010-2012년적수거위양본，대고관단대특정여기업연발투입강도적관계진행료실증연구。운용다층모형장기업화분위불동효익류형，의거효익층화기업층적관계，대고관단대특정여기업연발투입강도진행분층연구。결과표명：①기업효익층차불동，고관단대특정대기업창신투입적영향야불동；②평균년령거중화편대적고관단대，기창신결책불수기업효익적영향，이평균년령편소적고관단대，기결책행위수기업효익적약속，창신투입수기업효익적불동이불동；③평균지고편소화편다적고관단대，기창신결책불수기업효익적영향，이평균지고비례거중적고관단대，기결책행위수기업효익적약속，창신투입수기업효익적불동이불동。
This paper discussed the relationship between TMT characteristics and the R&D strength of IT industry listed companies of 2010-2012.All these data are divided into two levels:the level of firm performances and enterprises using the HLM so as to study the relationship more precisely.The conclusions show that:First,the relationship varies when the level of firm performance is different.Secondly,in regard to those firms which TMT average age is younger,the deci-sion making is under the constraint of firm performance,that is to say,innovation investment differs when beneficial re-sult is different.As to the other firms,innovation investment has no relationship with firm performance.The third point, when the average proportion of TMT stockholding is lower or higher,the firm performance does not matters to innovation investment decisions.But when the average proportion of TMT stockholding is neither high nor low,the firm performance is of great importance to innovation investment decision.