The Effects Of Corporate Governance On Technology Innovation

The 21st century is the era of the competition, enterprises should make the advantage in competition, they must have core competence. How do enterprises obtain core competence? Strengthening the technology innovation of enterprises, especially independent innovation, is very important. At present, technology innovation of Chinese enterprise depends on technology import mainly, and independent innovation is relatively weak, restraining enterprises from participating the market competition in a certain extent. What it is cause independent innovation of Chinese enterprises to be weak. Outside, the national innovative system has not been really set up yet, regional innovative system is setting up too; Inside, the input of R&D of enterprises is relatively low, material resources of technology innovation are supported insufficiently. However, the reason causing this kind of situation is that enterprises lack the enthusiasm of technology innovation. Corporate governance has the important influence on technology innovation of enterprises. The first part has put forward meaning, focal point and innovation of the article mainly, and reviewed the existing literature. This article considers that the existing literature about the effects of the structure of corporate governance on technology innovation at present is the stage of combining with empirical research in the theories, the result of this article has certainly supported relevant theories through the empirical research. The second part is the review of the concepts and theory of corporate governance. Firstly, explained the relationship of corporate governance and the structure of corporate governance, then reviewed the relevant theories of corporate governance. The third part is the theory discussion about the effects of the structure of corporate governance on technology innovation. Organizational control theory is particularly explained at first, it is an important theoretical foundation of this article too. Then introduced the system theory, and the function mechanism to technology innovation of the structure of corporate governance briefly. The fourth part is the empirical research about the effects of the structure of corporate governance on technology innovation. The effects of the structure of corporate governance on technological innovation are researched from equity structure, structure of board of directors and debt structure based on empirical data. This article has only considered the enterprises of manufacture industry, because of the reason of the data. The fifth part has explained the main conclusion of the empirical research, and has given the policy proposals of strengthening enterprise's research and development ability of our country.