Managerial Myopia,Technical Independent Directors And Enterprise Technology Innovation

As the global economic integration situation intensifies,the company’s continuous technological innovation and independent research and development capabilities are the basis for development and growth.At present,domestic and foreign scholars lack the attention paid to the role of independent technical directors in improving the company’s technological innovation performance.On the one hand,technological innovation capability is an important driving force for economic growth.On the other hand,technological innovation belongs to high-risk investment activities.Therefore,it is of great significance to study the impact of independent technical directors on technological innovation of enterprises.This paper takes the high-tech listed company as the research background,regards the manager short as the entry point,and integrates the managerial myopia,technical independent directors and technological innovation into a whole framework to study how the company’s technical independent directors influence the company’s technological innovation investment decision..At the same time,the introduction of adjustment indicators to explore the regulatory effect of short-sighted managers in the process of technological innovation affecting technological innovation.This paper selects 3,390 samples of 653 high-tech listed companies from 2010 to 2017 as the research objects.The conclusions are as follows: 1.The technical independent directors of high-tech listed companies have a significant positive correlation with technological innovation;2.Managers short-sighted and enterprises Technological innovation has a negative correlation;3.The role of independent technical directors in promoting technological innovation of enterprises will be affected by managerial myopia,and the weaker short-sighted behavior of managers,the more obvious the role of independent technical directors in promoting technological innovation of enterprises.The conclusions of this paper have important theoretical and practical significance for understanding the role of independent directors in technological innovation activities and how to strengthen their promotion of technological innovation.