Research On The Relationship Among Characteristics Of Board,R&D Input And Technological Innovation Performance

With the rapid development of science and technology and the more furious market competition in the 21 st century,more and more companies begin to realize that technological innovation is the source of core competitiveness.Only when a company grasps the trend of technological development and enhances the capacity for technological innovation,can it stand out among numerous competitors,expand the market share in the fierce competition and gain the advantage over other enterprises.As the nucleus mechanism of corporate governance,the board of directors has great influence on formulating and carrying out technological innovation strategies.Therefore,to enhance technological innovation performance,it is very urgent to effectively improve the governance of board of directors.Taking the relationship among characteristics of board,R&D input and technological innovation performance into account,the authors sets up the research framework of “characteristics of board-R&D input-technological innovation performance” to explore the different effects of characteristics of board on technological innovation performance and how the characteristics of board influence technological innovation performance.By using SPSS software to deal with the relevant data of 374 second-board market listed private companies,the author comes to the following conclusions: the scale of board is negatively correlated with technological innovation performance while the remuneration level of board members and the frequencies of board meetings are positively correlated with it.What's more,the proportion of independent directors,the average age and the level of education of board members do not have obvious impact on technological innovation performance.Further study also reveals R&D input has intermediary effect on the relation between the scale of board,the remuneration level of board members,the frequencies of board meetings and technological innovation performance.In the end,the author makes some recommendations concerning board governance on the basis of empirical results.