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论文编号：	10039
作者编号：	2120162707
上传时间：	2018/6/7 10:00:06
中文题目：	高新技术企业研发投入、高管薪酬结构和成本粘性
英文题目：	Research on R&D Investment，Executive Compensation Structure and Cost Stickiness of High-tech Enterprises
指导老师：	王志红
中文关键字：	成本粘性；研发投入；高管薪酬结构
英文关键字：	Cost Stickiness; R&D Investment; Executive Compensation Structure
中文摘要：	成本粘性作为会计研究的热点话题，在多个行业领域展开了热烈讨论，但在高新技术行业却相比甚少。基于不同的理论基础，成本粘性的合理性在学术界一直饱受争议，从机会主义理论出发，成本粘性会损害公司的价值发展，从调整成本理论出发，则有利于企业的长期发展，而在探讨和评价这一现象时，必须要以不同行业的不同特征为基础，全面认识问题。对高新技术企业来说，高强度的研发投入是其区别于其他行业企业的显著特点，企业不仅要意识到研发活动决定了其核心竞争力，更不能忽视其高风险、高回报、时间跨度长、调整成本高的特点对企业内部管理产生的影响。基于此，本文以高新技术企业为研究对象，从调整成本理论的视角出发，主要探讨高新技术企业研发投入和成本粘性之间的关系，选取2015-2016年的相关数据，在参考总结前人文献的基础上，通过实证检验，最终得到以下结论：（1）高新技术企业存在成本粘性；（2）企业研发投入对成本粘性有强化作用；（3）以发明专利和实用新型专利为主要研发对象的企业，研发投入对成本粘性的强化作用更强；（4）当企业高管薪酬以长期股权薪酬为主时，研发投入对成本粘性的强化作用更强。本文的研究，一方面丰富了高新技术企业成本粘性的研究成果，有一定的理论研究意义。另一方面，对企业管理也有一定的参考价值。企业的发展需要各方面相互协调，研发活动和成本管理作为高新技术企业的两个重要经营活动，管理者需要协调二者之间的关系，以企业的发展战略为导向，依据其自身的研发特点和能力水平，正确把握管理活动的重点，识别可能存在的风险和问题，做出科学合理的经营决策。
英文摘要：	Cost stickiness has been a hot topic in accounting research and has been actively discussed in many industry sectors, but it is relatively rare in high-tech industries. Based on different theoretical foundations, there are different views about the rationality of cost stickiness. Based on the theory of opportunism, cost stickiness will damage the company's value while on the adjustment cost theory, it will be beneficial to the long-term development of the company. To explore and evaluate this phenomenon, it is necessary to comprehensively understand the issues based on the different characteristics of different industries. For high-tech enterprises, high-intensity R&D investment is a distinctive feature that distinguishes them from other kinds of enterprises. Enterprises should not only realize that their R&D activities determine their core competitiveness, but can’t ignore the impact of these activities on the internal management of the company. Based on this, this paper mainly discusses the relationship between R&D investment and cost stickiness from the perspective of adjustment cost theory, taking the high-tech enterprises as the research object. Based on the empirical analysis, the following conclusions are drawn: (1) The high-tech enterprises have cost stickiness; (2) The company's R&D investment has a strengthening effect on cost stickiness; (3) If an Enterprise majorly research the invention patents and utility model patents, the strengthening effect R&D investment has on cost stickiness will be stronger; (4) When corporate executive compensation is dominated by long-term equity compensation, R&D activities have a stronger strengthening effect on cost stickiness. This paper enriches the research results of the cost stickiness in high-tech industry and also has certain reference value for enterprise management. The development of an enterprise requires coordination in all aspects. R&D activities and cost management are two important business activities of high-tech companies. Managers need to coordinate the relationship between the two. And guided by the development strategy, based on its own R&D characteristics and ability level, the company should correctly grasp the focus of management activities, identify possible risks and problems, and make scientific and rational business decisions.
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