| 上市公司创新能力指数的构建 |
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| 引用本文： | 肖淑芳,石琦,张一鸣. 上市公司创新能力指数的构建[J]. 北京理工大学学报(社会科学版), 2020, 22(1): 57-69. DOI: 10.15918/j.jbitss1009-3370.2020.1666 |
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| 作者姓名： | 肖淑芳 石琦 张一鸣 |
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| 作者单位： | 1. 北京理工大学 管理与经济学院, 北京 100081; |
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| 基金项目： | 国家自然科学基金面上项目（71672010，71672007）；国家社会科学基金重点项目（18ATJ003） |
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| 摘 要： | 基于创新经济理论、资源基础理论、可持续竞争优势理论，从创新投入能力、创新产出能力、创新的可持续发展能力三个维度构建涵盖17个指标的中国上市公司创新能力评价体系，利用层次分析和熵值赋权相结合的主客观组合赋权法确定指标权重，以1 263家A股上市公司2015-2017年的数据为样本，计算各个上市公司的创新能力指数，并基于权益薪酬能够提高企业创新能力的假设，使用倾向得分匹配与双重差分相结合的方法（PSM-DID）对该指数的有效性进行实证检验。结果表明:（1）企业创新能力评价指标体系中6个指标权重较高:专利质量、研发投入占营业收入的比重、资本化研发投入占比、本科及以上学历员工占比、技术人员占比和研发投入增长率，这意味着创新产出的质量、研发投入的力度以及员工素质对企业创新能力的提高尤为重要。（2）创新能力高的企业的研发投入资本化程度、技术人员占比、高学历占比和盈利能力高于能力较弱的企业。（3）所构建的企业创新能力指数能够有效地表征企业的创新能力。
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| 关 键 词： | 创新能力指数 组合赋权 权益薪酬 |
| 收稿时间： | 2019-05-22 |
The Construction of Listed Companies'Innovation Capability Index |
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| XIAO Shufang,SHI Qi and ZHANG Yiming. The Construction of Listed Companies'Innovation Capability Index[J]. Journal of Beijing Institute of Technology(Social Sciences Edition), 2020, 22(1): 57-69. DOI: 10.15918/j.jbitss1009-3370.2020.1666 |
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| Authors: | XIAO Shufang SHI Qi ZHANG Yiming |
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| Affiliation: | 1. School of Management and Economics, Beijing Institute of Technology, Beijing 100081, China;2. Deloitte Touche Tohmatsu, Beijing 100026, China |
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| Abstract: | Based on innovative economic theory,resource-based theory,and sustainable competitive advantage theory,an innovation capability index system of Chinese listed companies covering 17 indicators from three dimensions is established:innovation input ability,innovation output ability and innovative sustainable development ability. Combination weighting method which combines subjective and objective weighting results was used to determine the index weights. The data of the 1 263 A-share listed companies from 2015 to 2016 year was used as a sample to calculate the innovation ability index. And based on the assumption that equity remuneration could enhance the innovation capability of the company,the validity of the index is tested by using a combination of propensity score matching and difference-in-difference (PSM-DID). The results show that:(1) Six main indicators has higher weight on the innovation capability evaluation index system,including patent quality,R&D investment ratio,capitalized R&D investment ratio,proportion of undergraduate and above employees,proportion of technicians,and R&D growth rate.(2) Companies with better performance on innovation have higher levels of R&D,higher proportion of technicians,higher qualifications of employees,and better profitability. (3) The empirical results verified the validity of the Innovation Capability Index. |
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| Keywords: | innovation capability index combination of weighting equity remuneration |
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