Research On The Governance Effect Of Scientific And Technological Innovation On Budgetary Slack

The report of the Nineteenth National Congress of the CPC pointed out that to speed up the construction of an innovative country,we should aim at the world's scientific and technological frontiers,strengthen basic research,achieve major breakthroughs in forward-looking basic research and leading original achievements,and provide information for the construction of a scientific and technological power,a quality power,a space power,a network power,a transportation power,a digital China and a smart society.Therefore,enterprises must carry out scientific and technological innovation in order to survive and develop.Accelerating the technological innovation of enterprises has become the strategic goal of long-term development of enterprises.With more and more attention paid to scientific and technological innovation activities in China,the impact of scientific and technological innovation activities on enterprises has attracted more and more attention.Existing studies have found that scientific and technological innovation will not only have a positive impact on the profitability,growth capacity and other economic capabilities of enterprises,but also enhance the management capacity of enterprises.The scientific and technological innovation activities of enterprises have changed the production mode of enterprises and promoted the production efficiency of enterprises.When the old management mode hinders the development of enterprises and reduces the innovation dividend of enterprises,enterprises will change the production mode and enhance the management ability(Zhang Qiuhua,2018).Budget management is an important part of contemporary enterprise management(ANN Ling,2016).Budgetary slack always exists in budgetary management.Severe budget slack will cause economic losses to enterprises.Whether the scientific and technological innovation of enterprises has the governance effect of budget slack is a question that this paper cares about and explores.Based on the principal-agent theory,innovation theory and hierarchy of needs theory,this paper studies the relationship between scientific and technological innovation and budgetary slack,and explores the corresponding effects of property rights and political connections on the governance of innovative budgetary slack.The mechanism of technological innovation on budget laxity.The results show that the scientific and technological innovation activities of enterprises will inhibit the budget slack,and the governance effect is more significant in non-state-owned enterprises,especially in non-politically related enterprises.The development of a large number of scientific and technological innovation activities has boosted the market power of enterprises,and the enhancement of market power has encouraged managers to actively reduce budget slack when formulating budget objectives,showing the effect of budget slack governance of scientific and technological innovation.The article includes the following six chapters.The first part is introduction.Taking the research background and purpose as the breakthrough point,this paper expounds its theoretical and practical significance,introduces the innovation and contribution,and puts forward the research ideas and methods.The second part is literature review.By reviewing the relevant theoretical and empirical literature on scientific and technological innovation,market power and budget slack,this paper discusses the progress and direction of relevant research fields,summarizes and reviews the literature,and clarifies the research concept.The third part is theoretical analysis and research hypotheses.Based on the principal-agent theory,innovation theory and hierarchy of needs theory,the research hypotheses are put forward.The fourth part is research design.It mainly includes the definition of set variables and their quantification methods,the selection and arrangement of sample structure,the construction of models and the presentation of data analysis methods.The fifth part is the empirical analysis and results.In this part,descriptive statistics and correlation test are used to analyze and process the data,and multiple regression model is used to verify the hypothesis put forward in the previous part,which provides empirical data support for the later conclusions.Finally,the robustness test is carried out.The sixth part is conclusion.Based on the empirical analysis,we put forward relevant policy suggestions and put forward the prospect for further research.