标题：Internal Governance Structures and Input-intensity of R&D: An Empirical Study of Listed Companies on the GEM in China
作者：Ding, Lili; Wang, Lei; Liu, Xinmin
作者机构：[Ding, Lili; Wang, Lei; Liu, Xinmin] Shandong Univ Sci & Technol, Coll Econ & Management, Qingdao, Shandong, Peoples R China.
会议名称：3rd International Conference on Applied Social Science (ICASS 2013)
会议日期：JAN 15-16, 2013
来源：2013 3RD INTERNATIONAL CONFERENCE ON APPLIED SOCIAL SCIENCE (ICASS 2013), VOL 3
关键词：Managerial discretion; GEM; Internal governance structures;; Input-intensity of R&D
摘要：This study explores the effect of internal governance structure on input-intensity of R&D of the public offerings listed on the Growth Enterprise Market (GEM) of China during 2009-2010. Empirical research indicates that when managerial discretion is mediator variable and compensation difference is moderator, there is a positive correlation between input-intensity of R&D and proportion of independent directors. The ownership concentration and proportion of independent directors both have a positive effect in managerial discretion respectively. The linear relationship between director board size and input-intensity of R&D is not so significant. Furthermore, input-intensity of R&D is positively related to managerial discretion, while it is regulated positively by compensation.