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Analysis of enterprise management technology and innovation based on multilinear regression model


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Figure the composition of the relationship between enterprise management and technological innovation
Figure the composition of the relationship between enterprise management and technological innovation

Analysis of descriptive statistical results

Variable The mean The standard deviation The minimum The maximum
R&D investment (R&D) 0.0727 0.0778 0 0.9839
Technological innovation efficiency (D_1) 0.1223 0.4972 0 15.51
Equity concentration (CR3) 0.5154 0.1299 0.0445 0.9412
State-owned Equity (NEY) 0.0423 0.2016 0 1
Independent Director (IDR) 0.3743 0.0561 0.333 0.667
Two Shares in One (LST) 0.4256 0.4946 0 1
Board of Supervisors shareholding (BSS) 0.5052 0.5002 1 1
Executive ownership [MIT] 0.1940 0.1973 0 0.8968

The efficiency expectation relationship between enterprise management and technological innovation

Corporate governance structure Investment in technological innovation Efficiency of technological innovation
Concentration of ownership + +
The nature of the state-owned shareholding
Proportion of independent directors + +
Two jobs in one +
The Board of Supervisors holds shares + +
Executive equity incentives + +
Debt to asset ratio
Suppliers rely on +

Study variables and explanations

Variable type Variable name Variable code Representations of variable
The explained variable Investment in technological innovation R&D R&D investment/business investment
Explanatory variable Technological innovation efficiency D-1 Development investment/R&D investment
Concentration of ownership Cr3 The sum of the shareholding ratio of the top three shareholders
Nature of the largest shareholder ney State ownership is marked as 1, otherwise marked as 0
Proportion of independent directors idr Number of independent directors/total number of board members
Chairman and general manager lst The combination of two jobs is marked as 1, otherwise as 0
Two jobs in one
The Board of Supervisors holds shares bss Number of shares held by members of the Board of Supervisors/total share capital
Executive equity incentives mit Number of shares held by managers/total share capital
Debt to asset ratio debt Total liabilities/total assets
Suppliers rely on spe Top 5 Supplier Product Amount/Total Product Value
Control variables Company size size The natural logarithm of assets in tens of millions
Corporate performance roe Net profit/total assets
Industry characteristics ich For high-tech enterprises, it is 1, otherwise it is 0

Pearson coefficient test results analysis

Concentration of ownership (CR3) State-owned Equity (NEY) Independent Director (IDR) Two Shares in One (LST) Board of Supervisors shareholding (BSS) Executive ownership [MIT] Debt load ratio Supplier Dependency (SPE)
Cr3 1.0000 −0.0614 0.0152 0.0813 −0.2384 0.1403 −0.0807 0.0866
ney −0.0614 1.0000 −0.1152 −0.1637 −0.0838 −0.1689 0.0397 −0.0365
idr 0.0152 −0.1152 1.0000 −0.0015 −0.0323 0.1417 −0.0553 −0.0853
lst 0.0813 −0.1637 −0.0015 1.0000 −0.0054 0.6012 −0.0276 0.0803
bss −0.2384 −0.0838 −0.0323 −0.0054 1.0000 0.0655 −0.1309 0.0362
mit 0.1403 −0.1689 0.1417 0.6012 0.0655 1.0000 −0.1150 0.0960
debt −0.0807 0.0397 −0.0553 −0.0276 −0.1309 −0.1150 1.0000 −0.1799
spe 0.0866 −0.0365 −0.0853 0.0803 0.0362 0.0960 −0.1799 1.0000

Regression analysis

D_i Symbol anticipates The regression coefficient The standard deviation T value P values
Cr3 + 0.210*** 0.134 2.97 0.003
ney −0.130*** 0.086 −2.11 0.010
idr + 0.447 0.307 0.75 0.410
lst 0.033** 0.042 1.77 0.044
bss + 0.026*** 0.035 2.14 0.009
mit + 0.074 0.109 0.68 0.499
debt −0.111*** 0.119 −2.78 0.005
spe + −0.036 0.090 −0.4 0.687
size + 0.001 0.027 0.03 0.974
roe −0.013*** 0.022 −4.00 0.000***
ich 0.002 0.145 0.11 0.916
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Life Sciences, other, Mathematics, Applied Mathematics, General Mathematics, Physics