Board Operation, R＆D Expenditure and Corporate Performance --Baded on the Empirical Analysis on the Chinese Listed Manufacturing Firms
Board operation takes an increasingly prominent role in technology innovation activities while the ability of obtaining performance through R＆D expenditure is also different. This paper investigates the moderating effect of board operation between R＆D expenditure and corporate performance by multi-adjustment regression model based on the data from 634 listed manufacturing firms from 2004 to 2007. The result shows that： R＆D expenditure has a positive correlation to corporate value; board size has a negative ef- fect between R＆D expenditure and corporate value; R＆D impact on corporate value will turn weak with board meetings increasing; R＆D expenditure is the more important to corporate value than company size; R＆D impact on corporate value has industry-based dif- ferences from manufacturing industries.
NETL
NSTL
万方数据
维普
