| 高管股权激励对R&D资本化与费用化价值相关性的调节效应 |
| |
| 引用本文： | 王燕妮,毛俊超.高管股权激励对R&D资本化与费用化价值相关性的调节效应[J].世界科技研究与发展,2014(3):303-308. |
| |
| 作者姓名： | 王燕妮 毛俊超 |
| |
| 作者单位： | 西安电子科技大学经济管理学院,西安710071 |
| |
| 基金项目： | 国家自然科学基金（71203174）资助 |
| |
| 摘 要： | 选取2007~2011年披露研发投入且数据完整的1695家上市公司为研究样本,利用层次回归分析,实证检验了高管股权激励对RD资本化与费用化价值相关性的影响作用。研究结果表明:高管股权激励不仅是RD资本化投入与股票价格的半调节变量,同时,高管股权激励也是RD费用化投入与股票价格的半调节变量;通过高管股权激励,可以解决监管RD活动中信息不对称和风险性等问题,使企业实现股东价值最大化。
|
| 关 键 词： | R&D投入 R&D资本化 R&D费用化 高管股权激励 价值相关性 |
Moderating Effects of Executive Equity Incentive on Value Relevance of R ＆ D Capitalization and Expensing |
| |
| WANG Yanni,MAO Junchao.Moderating Effects of Executive Equity Incentive on Value Relevance of R ＆ D Capitalization and Expensing[J].World Sci-tech R & D,2014(3):303-308. |
| |
| Authors: | WANG Yanni MAO Junchao |
| |
| Institution: | (School of Economics and Management ,Xidian University ,Xi＇an 710071 ) |
| |
| Abstract: | Disclosure of R＆D input and complete data of 1695 listed companies from 2007-201 1 have been selected as re-search samples,using hierarchical regression analysis,empirically the executive equity incentive influence the R＆D capitali-zation and expensing value relevance.The research results show that the executive equity incentive is the half adjustment variables between the capitalization of R＆D investment and stock price and the executive equity incentive is the half adjust-ment between expensed R＆D investment and stock prices.By executive equity incentive regulation,such problems as infor-mation asymmetry and risk of R＆D activities can be solved,making the enterprise to maximize shareholder value. |
| |
| Keywords: | R＆D investment R＆D capitalization R＆D expensing executive equity incentive value relevance |
| 本文献已被 CNKI 维普 等数据库收录！ |
