Abstract：To find out whether the purpose of subsidiary board is only to satisfy the local legal requirements, this article, based on the relevant data of listed firms in Shanghai and Shenzhen stock exchange in China, through empirical study, tries to show that: subsidiary directors belonging to enterprise group have a positive impact on innovation; directors' equity holdings have an inverted U-shaped impact on innovation; directors from enterprise group and director shareholding cooperative stimulate the innovation ability of subsidiaries. The impact of subsidiary board on innovation is through the intermediary effect of R&D. Our paper tests the impact of subsidiary board on innovation, and gives some suggestions on how the formation of a reasonable structure of subsidiary board.
郑丽 陈志军 赵月皎. 子公司董事的集团身份、股权激励与技术创新的影响——基于子公司董事会的作用[J]. 浙江工商大学学报, 2017, 31(5): 95-106.
ZHENG Li CHEN Zhjun ZHAO Yuejiao. The Influence of Subsidiary Directors from Headquarters and Equity Incentives on Technological Innovation from the Perspective of Subsidiary Board. Journal of Zhejing Gongshang University, 2017, 31(5): 95-106.
2017, Vol. 31 
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