考虑股权结构和企业财务状况的跨对数知识生产函数的要素互补与替代

Q3 Decision Sciences

International Journal of Technology Intelligence and Planning Pub Date : 2013-01-01 DOI:10.1504/IJTIP.2013.060759

Wen-Cheng Lu

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引用次数: 0

摘要

本文运用随机前沿分析方法对企业的研发效率进行了评价，并对跨对数知识生产函数的要素可替代性进行了研究。研究发现，大多数替代弹性都是正的，并且支持四种研发投入之间的替代关系。股权结构对研发活动和效率具有重要影响。研究结果表明，较高的外资持股比例和经理人持股比例会提高企业的研发效率。通过净资产收益率(ROE)与研发效率、现金流(CF)与研发效率的负相关关系，支持了小保护假说和非生产性研发假说。研发经验和过去的研发质量可以提高研发效率。最后，小企业具有更高的研发效率。

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Factor complements and substitution for the translog knowledge production function considering ownership structure and firm financial condition

This paper uses stochastic frontier analysis to evaluate R&D efficiency and investigate factor substitutability for the translog knowledge production function. We find that most substitution elasticities are positive and support substitute relationships between the four R&D inputs. Ownership structure plays an important role in R&D activity and efficiency. Our findings suggest that higher foreign and manager shareholding will promote R&D efficiency. The little protection hypothesis and unproductive R&D hypothesis are supported by means of negative relationships for return on equity (ROE)–R&D efficiency and cash flow (CF)–R&D efficiency. R&D experience and past R&D quality appears to improve R&D efficiency. Finally, small firms have higher R&D efficiency.

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来源期刊

International Journal of Technology Intelligence and Planning Business, Management and Accounting-Management of Technology and Innovation

CiteScore

3.20

自引率

0.00%

发文量

期刊介绍： The IJTIP is a refereed journal that provides an authoritative source of information in the field of technology intelligence, technology planning, R&D resource allocation, technology controlling, technology decision-making processes and related disciplines.