Journal of Guizhou University of Finance and Economics

›› 2016 ›› Issue (01): 94-100.

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Nature of Ownership,Female Executive Participation and R&D Investment-The Evidence from Technology-Based SMEs

GU Qun1,2, WU Zong-yao1, WU Jin-dan3   

  1. 1. Business School, Tianjin University of Finance and Economics, Tianjin 300222, China;
    2. Chinese Academy of Fiscal Sciences, Beijing 100142, China;
    3. Guizhou University of Finance and Economics, Guiyang, Guizhou 550025, China
  • Received:2016-10-11 Online:2017-01-15 Published:2016-01-11

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Abstract: Based on Upper Echelon Theory, taking listed companies in Shenzhen Stock Exchange from 2008 to 2014 as samples, this paper analyzes the impact of female executive participation on the R&D investment. The nature of ownership plays a significant moderating role. This study finds out that female executive participation has a significant negative effect on R&D investment. In private enterprises, female executive participation has a stronger impact on R&D investment.

Key words: female executives, R&D investment, nature of ownership

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