Full-Text Search:
Home|Journal Papers|About CNKI|User Service|FAQ|Contact Us|中文
《R&D Management》 2017-01
Add to Favorite Get Latest Update

Impact of Ownership Arrangement and Manager Effort on the Cultivation of Strategic Emerging Industries——Based on the Incomplete Contract Theory

SONG Bo;ZHAO Liang-jie;Institute of Tourism,Shanghai Normal University;College of Management,Southwest University for Nationalities;  
The development process of strategic emerging industries was divided into RD stage and operation stage depending on the decision sequence. Based on the incomplete contract theory,it constructed the model to analyze the impact of ownership arrangement and manager effort on the RD investment and operation input of strategic emerging industries. Research results show that the hybrid ownership arrangement has significant impact on RD investment,but due to the private income and rent seeking motivation by government,the optimal ownership arrangement for maximization of social welfare will be missed under the public ownership arrangement. Then,introducing the role of manager effort to extend the model,it analyzed the operation inputs and executive income and effort under different ownership arrangements. It finds that manager compensation incentive is dominant under private and hybrid ownership arrangements,while operation input and manager's effort are closer to the efficiency level under public ownership arrangement. Finally,it discussed the policy implications of strategic emerging industries development.
【Fund】: 国家自然科学基金青年项目“基于技术和制度共同演化的战略性新兴产业协同创新机制研究”(71302021)
【CateGory Index】: F276.44
Download(CAJ format) Download(PDF format)
CAJViewer7.0 supports all the CNKI file formats; AdobeReader only supports the PDF format.
©2006 Tsinghua Tongfang Knowledge Network Technology Co., Ltd.(Beijing)(TTKN) All rights reserved