Ownership Structure and Firm Technical Innovation： a Theoretical and Empirical Analysis on Chinese Enterprises

Abstract

Taking more than 600 enterprises as example, this paper analyzes the influence of managers’ features on the relationship between ownership structure and technical innovation of the firm. The authors find that the managers’ care to owners benefit (Emc) and the managers’ talent(Ta) have positive influence on firm technical innovation (Inte), and the ownership share of different kinds of owners have different effects on Emc and Ta. Therefore, ownership structure can not only directly influence the technical innovation of the enterprises, but also influence it indirectly.
Key words: ownership structure, firm technical innovation, managers’ care to owners benefit, the managers’ talent
Résumé: Prenant en exemple plus de 600 entreprises, ce document present analyse l’ influence des caractéristiques des managers sur les relations entre la structure possessive et l’innovation technique des entreprises. Les auteurs trouvent que l’attention des managers aux intérêts des possédants (Emc) et le talent des managers (Ta) effectue une influence positive sur l’ innovation techniquel des entreprises(Inte), et le partage possessif de possédants de toutes les sortes a de differents effects sur Emc et Ta. Cependant, la structure possessive peut influencer l’innovation technique des entreprises directement à la fois indirectement.
Mots clés: structure possessive, innovation technique des entreprises, attention des managers aux intérêts des possédants, talent des managers