Study On The Influence Of Corporate Governance On Technological Innovation In Manufacturing Enterprises

Innovation is the soul of national progress, institutional innovation is the foundation and condition of technological innovation. In respect that technological innovation development and distribution of technological innovation production only base on the present institutional condition, once the present institutional condition doesn't satisfy the process of technological innovation, the institution need be innovated by external environment, which is the necessary choice for enterprise development, and technological innovation carrying through successfully. As a institutional frame, corporate governance not only is the foundation and condition but also has the importance effect on technological innovation. So improving corporate governance increasingly which is made for successful technological innovation is the development trend of institutional innovation of Chinese manufacturing enterprises.Based on the domestic and overseas research, a model is put forward about technological innovation effect based on corporate governance. The model is from the aspect of Principal-agent Theory and Stakeholder Theory, analyzing how the directorate, stakeholder and external market impel enterprises'technological innovation by anticipating corporate governance. Then comparing the different corporate governance models of America and Japan, analyzing the influence of American and Japanese corporate governance model on technological innovation in the aspect of shareholding structure, directorate's supervision mechanism and incentive mechanism for executives, innovation team's management and enterprise culture. The next part is the empirical research about the effects of the corporate governance on technological innovation. The effects of corporate governance on technological innovation are researched from size and structure of directorate, shareholding structure and operator share-holding. In consideration of the problems of technological innovation of the manufacturing enterprise, some reasonable suggestion is advanced for development of corporate governance.