An Analysis Of The Moderating Effect Of Corporate Governance Mechanism On The Relationship Between Knowledge Assets And Enterprise Performance

The spread and diffusion of technology has become the core factors of value creation,so the performance of knowledge assets and enterprise information technology industry are closely related,but different enterprises in the industry of knowledge assets investment and performance are also different,different to the condition of corporate governance is the important factors affecting the core content of the company.The governance mechanism of supervision mechanism and incentive mechanism has become a hot issue in enterprise management of knowledge capital input and output relationship.The main content of this paper is: in the current on the impact of corporate governance mechanism on knowledge assets,knowledge assets,corporate performance and corporate governance impact on the relationship between knowledge assets and enterprise performance based on effect,put forward the focus of this paper;based on the principal-agent theory,the principal-agent problem of intellectual property activities the effect of corporate governance on the input and output of knowledge assets and corporate governance mechanism on the relationship between knowledge assets and performance are analyzed,and puts forward the research hypothesis;finally,select the 2010-2014 in Chinese information technology industry listed companies as research samples,using hierarchical regression and subgroup analysis method,from the adjustment effect of two an incentive mechanism and supervision mechanism to test the relationship between knowledge assets and enterprise performance.The results show that the increase of knowledge assets with the current economic performance is not conducive to the improvement of enterprise;incentive mechanism and supervision mechanism to moderate the relationship between knowledge capital and enterprise performance is positive regulatory effect,and supervision mechanism over the relationship between the intellectual capital and enterprise performance is a negative regulatory effect.The innovation of this paper is to break the traditional ideas,consider the impact of corporate governance mechanism,corporate governance mechanism,knowledge assets and enterprise performance into the same analysis within the framework of research,considering the mechanismof corporate governance regulation two strength,by hierarchical regression and subgroup analysis,the full identification of various companies the governance mechanism of regulating effect.But because of subjective,objective conditions,the paper still has some shortcomings: the corporate governance includes internal governance and external governance,due to data availability constraints,this article only makes research on the governance mechanism of incentive and supervision factors,such as the external governance mechanism of manager market influence securities analyst on the relationship between knowledge assets and enterprise performance not related to corporate performance;only consider the current operating performance,while knowledge assets has long Term earnings,so consider not comprehensive,future research,can consider lagging corporate performance and other aspects to measure corporate performance.