Software Service Company Ownership Structure On Corporate R&D Investment Impact Analysis

Under economic globalization, as micro subject of the market mechanism,enterprises are confronted with a worldwide competition. Above all, facing fierce competition from the developed countries of the west in the post-financial crisis world, how to keep the enterprise’s core competence is the most problematic issue. Without question, under the circumstance of more fierce external competition and the depression of macro-economy, enterprises must seek the innovation of internal products and the change of organizational structure, strengthen the product research and development, enhancing the core competence and realize the sustainable development. In recent years, China’s enterprises continuously strengthen corporate governance and the improvement of internal control system, but not enough for the enterprise’s rapid development and the requirements of large-scale R&D investment. Therefore, it is worth exploring and is also the starting point of this research to determine how to integrate corporate governance structure and R&D investment as well as how to promote enterprise R&D investment through improving corporate governance structure.Based on the theoretical analysis, taking the data of software services industry from 2011 to 2013 as research samples, this paper makes an empirical analysis and draws the conclusion that enterprises’ Ownership Structure has an impact on the R&D investment. Firstly, this paper introduces the background,significance, method, ideas and framework of this research. Some relevant concepts are circumscribed. Through reviewing overseas and domestic research status, based on principal-agent theory, equity incentive theory, technological innovation theory and also previous studies, this paper determines the starting point of the research. Secondly, by summarizing characteristics of software services industry and collecting relevant data of software services enterprises’ Ownership Structure and the R&D investment, this paper carries on an analysis of the present situation. And on this basis, this paper makes a theoretical analysis on the correlation of our software services enterprises’ Ownership Structure and R&D investment. Thirdly, this paper makes hypotheses on the research according to relevant theories, and evaluates the enterprise’s Ownership Structure and R&D investment based on variables chosen. The variables on Ownership Structure cover nature of equity, equity concentration,equity checks and balances, senior management shareholding and the joining together of two positions. The variable on R&D investment is the intensity of R&D investment. Using selected indicators, this paper build a relevant model and makes an empirical analysis, including a descriptive analysis, correlation analysis, stability analysis and regression analysis. Finally, based on the results of this research, and characteristics of our software and services enterprises’ Ownership Structure and R&D investment, this paper draws a conclusion and put forward measures to improve enterprises’ R&D and innovative capability on all aspects of the enterprises’ ownership structure.Based on a systemic research, this paper draws the following conclusions.Relatively concentrated equity concentration is conducive to enterprise’s R&D investment. Equity checks and balances is advantageous to the enterprise R&D investment. The state-owned enterprises’ R&D input intensity is lower than that of non-state-owned enterprises. Senior management shareholding is conducive to enterprise’s R&D investment. The joining together of two positions is beneficial to enterprise’s R&D investment.