An Empirical Study On Top Management Team's Capital,R&D Investment And Enterprise Performance Based On Technology Industry

With the development of modern company system and principal-agent theory,the ownership and management rights of enterprises are separated from each other.The senior management team is not only the important human capital factor but also the development strategy and business performance of the enterprise.Research on human capital,R&D investment and corporate performance of executive team is becoming the mainstream of domestic and foreign research.For a long time,most scholars at home and abroad have focused on the characteristics of human capital in the individual manager level.This paper first reviews the theoretical research on the relationship between human capital,R&D investment and business performance of senior management team at home and abroad,and makes reference to the theoretical basis of human capital theory,high-level echelon theory,technological innovation theory of technology enterprises Combing and defining the concepts of the main variables in the article and proposing assumptions.Through the screening of the final selection of 100 listed companies in Shanghai and Shenzhen as a research sample,construct multiple regression model.The empirical results show that:(1)R&D investment has a significant positive impact on business performance;(2)Through the introduction of executive team human capital as a regulatory variable to adjust the effect of inspection found that the size of executive team R&D investment and business performance The senior management team has a significant positive effect on R&D investment and corporate performance.The senior management team has a significant positive effect on the R&D investment and corporate performance.The senior management team has a significant positive effect on the R&D investment and corporate performance.Regulatory effect is not significant.In the end,the thesis states the empirical consequences,comes up with the suggestions for the scientific and technological enterprises to build the executive team,rationally optimize the enterprise management team,train the executives and the future development of the enterprises,and put forward the research shortcomings and research prospects.