摘要:中国的经济发展在近几年的时间里得到了飞速的发展。但与发达国家相比，还是有
很大差距。在当今竞争激烈化的经济时代，一个企业在没有自己的核心竞争力的情况下是
无法在市场上立足的。这个所谓的核心竞争力就是企业的自主创新能力。所以激发企业自
主创新的积极性，从而提高企业自主创新的能力， 使公司得到有效的发展，就显十分重要。
本文基于公司治理的角度， 对我国企业公司治理与企业创新之间的关系进行了分析与研究
探讨了公司治理对企业创新的影响因素。 本文以 2009 年到 2014 年沪深两市的上市公司为
研究对象， 采用多元回归分析法和 SPSS 统计软件分析了公司治理与企业创新之间的关系。
经过研究分析发现，股权结构，董事会结构和规模，经营者激励与约束机制、其他利益相
关者，与企业创新关系存在正比例关系。企业资产负债比率与企业创新存在反比例关系。
并且通过分析为提高企业创新能力提出了如下建议：改善公司的股权分布结构，充分发挥
股东对企业创新的推动能力；建立有专业素质，符合企业发战略和运营特点的董事会组成
机制；企业结合自身情况，采取短期和长期相结合，发放奖金和股权等多种手段相搭配的
激励方法，从而达到对公司经营者的激励结果。
关键词：公司治理 公司治理机制 企业创新 研发费用
Relationship between Corporate Governance and
Innovation
Abstract:In recent years, China's rapid economic development has made great progress.
However, compared with developed countries, still a big gap. Fierce competition in the global
knowledge economy era, if a company is not their core competency is unable to gain a foothold
in the market. The core competence is their innovation. So how to stimulate the enthusiasm of
independent innovation, improve the ability of independent innovation is imminent. Based on
the perspective of corporate governance, the relationship between our corporate governance and
enterprise innovation are analyzed and studied. Discussion on corporate governance for
innovation and technology factors influencing mechanism. In this paper, from 2009 to 2014,
listed companies in Shanghai and Shenzhen as the research object, using multiple regression
analysis and SPSS statistical software to analyze the relationship between corporate governance
and business innovation. The study found that ownership structure, board structure and scale,
management incentive and restraint mechanisms, and other stakeholders; there is a proportional
relationship between innovation relations. The presence of an inverse relationship between the
ratio of corporate assets and liabilities and business innovation. And by analyzing the ability to
enhance enterprise innovation made the following recommendations: improving corporate
ownership structure, shareholders play a role in promoting technological innovation; and to
establish a professional quality, in line with Director Corporate Development Strategy and the
operating characteristics of the composition; combined with their own circumstances, to take
short-term incentives and long-term incentives combined with a variety of bonuses and equity
incentives and other methods to achieve the phase matching incentives for operators.
Keywords: Corporate governance Corporate governance mechanism Governance corporate
R&D expenses
目 录
一、绪论 1
（一）研究背景. 1
（二）研究目的. 1
（三）研究意义. 1
（四）研究方法. 2
（五）基本内容与研究框架. 2
二、国内外文献综述 4
（一）国外文献综述. 4 公司治理与企业创新的关系研究（理论研究+实证分析）:http://www.youerw.com/kuaiji/lunwen_252.html