Using the sample of non-financial listed companies in Shanghai and Shenzhen A shares,the impact of senior managers'R&D background and power on enterprise risk-taking was empirically tested.The results show that both the R&D background of senior executives and the R&D background of senior executives have a significant role in promoting enterprise risk-taking.The above conclusions are still valid after a series of robustness tests.The mechanism test finds that the increase of enterprise innovation investment plays a part of intermediary role in the process of executives'R&D background and power promoting enterprise risk-taking.Further distinguishing high-tech industries,finds that the promotion effect of senior managers'R&D background on enterprise risk-taking is only significant in high-tech industries,while the promotion effect of senior managers'R&D background power on enterprise risk-taking is significant in both high-tech and non high-tech industries.
关键词
高管研发背景/研发背景高管权力/企业风险承担
Key words
R&D background/power of R&D background/enterprise risk-taking
维普
万方数据