Research On The Relationship Between Ownership Structure And R&d Investment Of Chinese Listed Companies

The core competitiveness of enterprises is from the research and development, R & D is the lifeline of enterprise survival and development. In recent years, Chinese government has introduced a large number of scientific and technological innovation policies to encourage enterprises to conduct research and development, from the absolute amount of China's R & D investment (R & D expenses) and relative volume (R & D intensity), it seems has greatly improved, however, China's R & D Enterprises input is still far below the average level of developed countries, and showed a huge gap.This first chapter is introductory, mainly introduced that China's R & D investment increased year by year but still far below the average level of developed countriesChapterⅡis the the definition of key concepts and literature review, including the three aspects.In the definition of equity structure, ownership structure defines the following aspects:Stock concentration, the first largest shareholder equity ratio, equity ratio executives and equity nature.ChapterⅢis theoretical analysis. Mainly analysis the risks of R & D investment, our equity structure characteristics and the status and the relationship between ownership structure and R & D investment.ChapterⅣis research design section, mainly including assumptions, data sources, sample selection, variable selection and construction of the basic model and so on.ChapterⅤpart is empirical test.ChapterⅥis the final chapter of this article, in which pairs of full text and summarized so help to promote Chinese enterprises to establish R & D investment of the appropriate ownership structure made recommendations and identified deficiencies in the article and follow-up research.The main contribution of this paper is reflected in the following two aspects: (1) a unique research perspective.(2) use of new data.