Full-Text Search:
Home|Journal Papers|About CNKI|User Service|FAQ|Contact Us|中文
《Journal of Finance and Economics》 2013-04
Add to Favorite Get Latest Update

Type Ⅱ Agency Problem,Blockholders Counterbalance and Corporate Innovation Investment

ZUO Jingjing1,TANG Yue-jun2,SUI Yue2(1.Business School,University of Shanghai for Science and Technology, Shanghai 200093,China;2.School of Management,Fudan University, Shanghai 200433,China)  
Based on the theory of ultimate control right and empirical evidence from listed companies in China,it reaches conclusions as follows:firstly,controlling shareholders involved in type Ⅱ agency problem are deficient in the motivation for consistent high-level innovation investment;secondly,the increase in the shareholding of other large shareholders is beneficial to the promotion of RD and innovation investment in listed companies;thirdly,other large shareholders counterbalance in private listed companies is contributive to the increase in RD and innovation input and other large shareholders in state-owned listed companies can not play their due supervision and counterbalance roles.
【Fund】: 国家自然科学基金项目(70802015);; 上海市教育委员会科研创新重点项目(13ZS009)
【CateGory Index】: F832.48;F224;F273.1
Download(CAJ format) Download(PDF format)
CAJViewer7.0 supports all the CNKI file formats; AdobeReader only supports the PDF format.
【Citations】
Chinese Journal Full-text Database 1 Hits
1 Tang Yuejun Zuo Jingjing;Ultimate Control Right,Governance Strategy of Blockholders and Independent Directors[J];Auditing Research;2010-06
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 HE Can-fei,PAN Feng-hua,YIN Wei(Department of Urban and Regional Planning,Peking University,Beijing 100871,China);INDUSTRIAL LINKAGES AND SPILLOVER EFFECTS OF FDI——An Empirical Study on Manufacturing Industries in Zhejiang Province[J];Human Geography;2008-06
2 LI Lu-tang,XUE Ji-liang(School of Economics and Management,Northwest A&F University,Yangling Shanxi 712100,China);Research on the Changing Tendency of Agricultural Productivity Growth in China from 1980 to 2006[J];Journal of Shanghai University of Finance and Economics;2008-04
3 Yao Yaojun;Financial Development and Entrepreneurship:Empirical Evidence from Chinese Provincial Panel Data[J];Journal of Financial Development Research;2012-05
4 YANG Hui-xin QUAN Zong-shuai(School of Management,Shandong University,Jinan 250100,P.R.China);An Empirical Study on the Relation between Enterprise Size and R&D Input and Output:Case Study of Private High-tech Enterprises in Shandong Province[J];Journal of Shandong University(Philosophy and Social Sciences);2009-03
5 WANG Li-li ZHAO Yong(School of Economics,Shandong University,Jinan 250100,P.R.China;School of Economics,Renmin University of China,Beijing 100872,P.R.China);Efficiency Evaluation of China’s Manufacturing:A DEA Approach[J];Journal of Shandong University(Philosophy and Social Sciences);2010-01
6 Wang DewenCai Fang;Market Competition, Reform of the Employment System and the Efficiency of Enterprises[J];World Economy;2005-06
7 ;Research on Relative Efficiency of Industrial Enterprises in China[J];The Journal of Quantitative & Technical Economics;2006-11
8 ;Empirical Studies on the Spatial Spillovers from FDI:Based on The Scale of Chinese Firms and FDI Types[J];The Journal of Quantitative & Technical Economics;2007-06
9 ;Industry Performance,Technology Efficiency and Its Affecting Factors:an Empirical Analysis based on the 2004 Zhejiang Economy Census[J];The Journal of Quantitative & Technical Economics;2008-07
10 ;Research on Relative Efficiency and the Growth of TFP of Enterprises in China's Manufacturing Industry[J];The Journal of Quantitative & Technical Economics;2008-07
China Proceedings of conference Full-text Database 10 Hits
1 Ye Jingyi and Yin Zhifeng School of Economics,Peking University,100871,China;Technology Appropriability,Foreign Technology Transfer and Enterprise Innovation——An Effectiveness Test of Intellectual Property Protection (IPP)[A];[C];2011
2 Wang Chuanrong,Xu Yinliang (Shandong University of Financial,Shandong Jinan 250014,China);Cause and Effect between Market Structure and Innovation Input:Based on Empirical Evidence of Shandong's Industries Panel Data[A];[C];2010
3 ;Decomposition of the total factor productivity’s growth of China's service industry and evolution of its efficiency——The Analysis Based on Stochastic Frontier Model[A];[C];2008
4 ;What Influences The Foam of ChiNext?[A];[C];2011
5 WU Hao-min1,2 Yang Xing-quan1 WEI Hui1 1 Economy and Management School,Shihezi University,Shihezi City,Xinjiang,832003;2 Management School,Jinan University,Guangzhou,510632;Product Market Competition and Idiosyncratic Risk——Based on Empirical Evidence of Chinese Listed Companies[A];[C];2011
6 Lu Boke,Tang Qingquan,Yuan Yingxiang School of Business,Sun Yat-sen University,Guangzhou,510275,China;Innovation efficiency、Differences between industry and Factors affecting[A];[C];2008
7 ;Industry firms、Resources input and innovation efficiency——base on big-middle industry department in China[A];[C];2008
8 WANG Yan-ni,WANG Ying(School of Economics and Management,Xidian University,Xi'an,710071,China);Board of Director's Governance and R&D Investment Evidence from Listed Manufacturing Companies in China[A];[C];2010
9 Boke Lu1,2,Qingquan Tang2 (1.PostDoctoral Programme of China Merchants Bank,Shenzhen,Guangdong,china;2.School of Business,Sun Yat-sen University,Guangzhou,Guangdong,china);Innovation Efficiency study of China's provincial-level——Based on Slack-based input-output[A];[C];2010
10 ZHANG Xuan,GAO Bei-bei~2 (School of Management,Hefei University of Technology,Heifei 230009,China);Study of the Impact of Corporate Governance On Enterprises' R&D Investments——An Empirical Study from Chinese Listed Companies of Different Industries[A];[C];2009
【Secondary Citations】
Chinese Journal Full-text Database 4 Hits
1 AN Tongliang1 WANG Wenyi1 XU Zhijian2 Ludovico Alcorta3 1 Department of Economics,Nanjing University Nanjing 210093 2 Department of Managment,Nanjing University Nanjing 210093 3 United Nations Industrial Development Organization Austria;Micro-mechanism of Patent Strategy in Chinese Manufacturing Enterprises:Experience from Jiangsu Province[J];;2009-01
2 Shao Shaomin Wu Canglan Lin Wei;Outside Directors, Board Composition and Shareholding Structure: An Empirical Test of the Listed Companies in Zhejiang Province[J];World Economy;2004-02
3 Zhu Hengpeng;Firm Size,Market Power,and the R&D Behavior of Non-governmental Enterprises[J];The Journal of World Economy;2006-12
4 ;Blockholders Counterbalance, Information Asymmetry and External Auditing Constraints:Evidences from Chinese Listed Companies from 2001 to 2004[J];Auditing Research;2006-05
©2006 Tsinghua Tongfang Knowledge Network Technology Co., Ltd.(Beijing)(TTKN) All rights reserved