内部控制对RD投入与企业绩效关系的调节效应研究——基于深交所高新技术企业的经验数据

摘要

This paper takes 463 advanced technology enterprises listed in the Shenzhen Stock Exchange in 2012-2015 as research samples.Based on the panel data,the paper analyzes empirically that internal control moderates the relationship between R&D investment and enterprise performance.The results show that the current period and one-phase-lagging R&D investment have significantly negative influence on enterprise performance;two-phase-lagging R&D investment has significantly positive influence on enterprise performance;internal control can improve the enterprise performance significantly.Internal control has a negative regulatory effect on the relationship between current and lagging R&D investment and enterprise performance.%以2012-2015年在深交所上市的463家高新技术企业作为研究样本,基于面板数据,实证分析内部控制对R&D投入与企业绩效关系的调节效应.研究结果表明:当期和滞后1期R&D投入对企业绩效具有显著的负向影响;滞后2期的R&D投入对企业绩效具有显著的正向影响;内部控制对企业绩效提高有显著的促进作用;内部控制对当期和滞后期的R&D投入与企业绩效关系具有负向调节作用.