优化股权结构,赋能技术创新——基于浙江农业龙头企业面板数据的实证研究

doi:10.3969/j.issn.1004-1524.2020.05.22

浙江农业学报 ›› 2020, Vol. 32 ›› Issue (5): 931-940.DOI: 10.3969/j.issn.1004-1524.2020.05.22

• 农业经济与发展 • 上一篇

优化股权结构,赋能技术创新——基于浙江农业龙头企业面板数据的实证研究

俞滨, 汪卫芳

浙江金融职业学院,浙江杭州 310018

收稿日期:2020-02-08 出版日期:2020-05-25 发布日期:2020-05-29
作者简介:俞滨(1985—),男,浙江杭州人,硕士,讲师,主要从事农业经济、区域金融研究。E-mail: 379898726@qq.com
基金资助:
浙江省哲学社会科学规划(19NDYD40YB); 浙江省统计研究青年课题(19TJQN06)

Technological innovation empowered by ownership structure optimization:an empirical study based on panel data of Zhejiang agricultural leading enterprises

YU Bin, WANG Weifang

Zhejiang Financial College, Hangzhou 310018, China

Received:2020-02-08 Online:2020-05-25 Published:2020-05-29

摘要/Abstract

摘要： 技术创新被认为是保障中国经济下半程持续健康发展的关键。农业龙头企业提高技术创新水平有助于带动农业的高质量发展和实现乡村振兴。为此,以公司治理相关理论为依托,在充分调研浙江农业龙头企业的基础上,结合2012年以来涉农上市公司的相关数据,通过全样本与分组样本回归分析,重点讨论了股权集中度、股权制衡度、产权性质、管理层持股比例和机构投资者持股比例对企业技术创新的作用。结果发现,股权集中度与技术创新呈“N”形关系,机构投资者持股比例对技术创新有一定负效应,而股权制衡度、产权性质、管理层持股比例与技术创新的关系则要视股权集中情况而定。以上结果可为农业企业从改善股权结构入手,推动公司治理机制不断完善,为企业创新活动构建有利的制度环境,进而更好地赋能企业技术创新提供参考。

关键词: 农业龙头企业, 乡村振兴, 创新驱动, 高质量发展, 实证分析

Abstract: Technological innovation has been considered as the key element for the sustainable and healthy development of Chinese economy in the second half. The improvement of technological innovation level of agricultural leading enterprises will help to realize high-quality development in agriculture and rural revitalization. Based on the theory of corporate governance, the survey of agricultural leading enterprises and the data of listed agricultural companies since 2012 in Zhejiang Province, the present study mainly discussed the effect of ownership concentration degree, ownership balance degree, enterprise nature, managerial ownership and institutional investor ownership on the technological innovation of enterprises by total sample and grouped samples regression analysis. It was shown that the relationship between ownership concentration degree and technological innovation was “N” type. The institutional investor ownership had a negative effect on technological innovation, and the relationships within ownership balance degree, enterprise nature, managerial ownership and technological innovation were dependent on the ownership concentration. It was expected to improve the ownership structure, promote the improvement of corporate governance mechanism, build a favorable institutional environment to empower enterprise technological innovation.

Key words: agricultural leading enterprises, rural revitalization, innovation-driven, high-quality development, empirical analysis

中图分类号:

S-9
F303.2

俞滨, 汪卫芳. 优化股权结构,赋能技术创新——基于浙江农业龙头企业面板数据的实证研究[J]. 浙江农业学报, 2020, 32(5): 931-940.

YU Bin, WANG Weifang. Technological innovation empowered by ownership structure optimization:an empirical study based on panel data of Zhejiang agricultural leading enterprises[J]. , 2020, 32(5): 931-940.

参考文献

[1] 亚当·斯密. 国富论[M]. 谢宗林, 李华夏, 译. 北京:中央编译出版社,2013.
[2] 熊彼特. 经济发展理论[M]. 郭武军,吕阳,译. 北京:华夏出版社,2015.
[3] 潘士远, 史晋川. 内生经济增长理论: 一个文献综述[J]. 经济学(季刊), 2002 (3): 753-786.
PAN S Y, SHI J C.Endogenous economic growth theory: a survey[J]. China Economic Quarterly, 2002 (3): 753-786.(in Chinese with English abstract)
[4] FAGERBERG J, MOWERY D C, NELSON R R.The oxford handbook of innovation[M].Oxford, UK: Oxford University Press, 2004.
[5] 党印. 公司治理与技术创新: 综述及启示[J]. 产经评论, 2012, 3(6): 62-75.
DANG Y.Corporate governance and technology innovation: review and implications[J]. Industrial Economic Review, 2012, 3(6): 62-75.(in Chinese with English abstract)
[6] BECHT M, BOLTON P, ROELL A, et al.Corporate governance and control[J]. Handbook of The Economics of Finance, 2002 (21): 1-109.
[7] 鲁桐, 党印. 公司治理与技术创新: 分行业比较[J]. 经济研究, 2014, 49(6): 115-128.
LU T, DANG Y.Corporate governance and innovation: differences among industry categories[J]. Economic Research Journal, 2014, 49(6): 115-128.(in Chinese with English abstract)
[8] CLAESSENS S, FAN J P.Corporate governance in Asia: a survey[J]. International Review of Finance, 2002, 3(2): 71-103.
[9] 陈仕华, 郑文全. 公司治理理论的最新进展: 一个新的分析框架[J]. 管理世界, 2010(2): 156-166.
CHEN S H, ZHENG W Q.Recent advances in corporate governance theory: a new analytical framework[J]. Management World, 2010(2): 156-166.(in Chinese)
[10] 程翠凤. 高管激励、股权集中度与企业研发创新战略: 基于制造业上市公司面板数据调节效应的实证[J]. 华东经济管理, 2018, 32(11): 118-125.
CHENG C F.Executive incentive, ownership concentration and corporate R & D innovation strategy: empirical evidence based on the moderating effect of panel data of listed manufacturing companies[J]. East China Economic Management, 2018, 32(11): 118-125.(in Chinese with English abstract)
[11] 冯根福, 温军. 中国上市公司治理与企业技术创新关系的实证分析[J]. 中国工业经济, 2008(7): 91-101.
FENG G F, WEN J.An empirical study on relationship between corporate governance and technical innovation of Chinese listed companies[J]. China Industrial Economics, 2008(7): 91-101.(in Chinese with English abstract)
[12] 李春涛, 宋敏. 中国制造业企业的创新活动: 所有制和CEO激励的作用[J]. 经济研究, 2010, 45(5): 55-67.
LI C T, SONG M.Innovation activities in Chinese manufacturing firms: the roles of firm ownership and CEO incentives[J]. Economic Research Journal, 2010, 45(5): 55-67.(in Chinese with English abstract)
[13] 温军, 冯根福. 异质机构、企业性质与自主创新[J]. 经济研究, 2012, 47(3): 53-64.
WEN J, FENG G F.Heterogeneous institutional investor, nature of firm and independent innovation[J]. Economic Research Journal, 2012, 47(3): 53-64.(in Chinese with English abstract)
[14] 文芳. 股权集中度、股权制衡与公司R&D投资: 来自中国上市公司的经验证据[J]. 南方经济, 2008(4): 41-52.
WEN F.Ownership concentration, outside blockholders, and R & D expenditure: evidence from China's listed companies[J]. South China Journal of Economics, 2008(4): 41-52.(in Chinese with English abstract)

优化股权结构,赋能技术创新——基于浙江农业龙头企业面板数据的实证研究

Technological innovation empowered by ownership structure optimization:an empirical study based on panel data of Zhejiang agricultural leading enterprises

RichHTML

PDF (PC)

可视化

摘要/Abstract

引用本文

使用本文

参考文献

相关文章 11

编辑推荐

Metrics

本文评价

[1]	张发明, 丁峰, 王坪. 中国粮食主产区农业高质量发展水平评价与时空演变[J]. 浙江农业学报, 2021, 33(1): 150-160.
[2]	董艳敏, 严奉宪. 中国农业高质量发展的时空特征与协调度[J]. 浙江农业学报, 2021, 33(1): 170-182.
[3]	魏玲玲, 童再康, 罗黎敏, 沈希. 从乡村振兴视角谈科技特派员制度创新——以浙江省为例[J]. 浙江农业学报, 2020, 32(7): 1311-1316.
[4]	傅琳琳, 毛小报, 毛晓红, 李海涛, 王瑾. 浙江农业可持续发展水平与区域差异综合评价——基于高质量发展视角[J]. 浙江农业学报, 2020, 32(10): 1880-1889.
[5]	何兰, 周国华. 基于耗散结构理论的田园综合体发展分析[J]. 浙江农业学报, 2019, 31(8): 1388-1398.
[6]	胡豹, 谢小梅. 高质量推进乡村振兴的浙江典型模式与路径创新[J]. 浙江农业学报, 2019, 31(3): 496-502.
[7]	任维, 张雪葳, 李房英, 董建文. 基于景观破碎度分析的温州三垟湿地乡土景观保护研究[J]. 浙江农业学报, 2019, 31(11): 1841-1854.
[8]	滕玉华1，阮华1，翁贞林2，*. 农户参与用水协会管理可持续性影响因素的实证分析——基于江西省农户的调研[J]. 浙江农业学报, 2015, 27(11): 2037-.
[9]	张凤龙;;童洪志;;谢必武. 现代农业主导产业选择实证分析 ——以重庆万州区为例[J]. , 2013, 25(5): 0-1158.
[10]	张莉;曲玮;*;王生林. 西北干旱地区农民收入差异实证分析[J]. , 2013, 25(3): 0-666.
[11]	牛凯 . 中国农村产业结构调整对农村经济增长影响的实证研究[J]. , 2012, 24(1): 0-157.