Research On The Moderating Effect Of Corporate Governance Structure On Relationship Between Technology Investment And Management Performance

With the acceleration of economic integration process,the development of economic forms of change,increasing competition in the market economy,science and technology is a new driver of enterprise development.The communication industry has gradually become China's new strategic industry,responsible for China's economic restructuring and upgrading of the important responsibility for China's science and technology and international standards to establish a connection.Since the new century,China's research funding continues to increase,the number of patent applications is more and more,but in general the performance of science and technology R&D with the Western developed economies there is a clear gap between the qualities of the patent cannot be guaranteed.Technological innovation and technological innovation is the driving force of sustainable development of enterprises,enterprises in order to achieve a competitive environment in the self-development,growth,must strengthen the intensity of technological innovation,research funding into the strength of first-class standards,first-First-class service and first-class management to maintain the dominant position of the market to ensure the benefits of the observability,durability,health,and promote the development of enterprises across the century.As we all know,information asymmetry,long conversion cycle,imperfect corporate governance structure and other factors so that the enterprise's investment in technology and performance there is a certain lag between the delay caused by and contributed to the investment in the activities of the agency agent problem,Greatly reducing the scientific and technological achievements and technological efficiency of the conversion speed and quality.Therefore,the author thinks that it is of theoretical and practical significance to further study the effect of corporate governance on corporate science and technology investment and business performance.In this paper,we use descriptive statistical analysis,adjust the method of tiered regression and group regression to select the panel data of 644 samples from 2014 to 2016,and use the corporate governance structure as the adjustment variable to construct the corporate governance structure The relationship between the investment in science and technology and the performance of the relationship between the model,so as to corporate governance structure,technology investment and business performance between the three internal relations and explore the way to explore.This paper is divided into the following parts: First,the impact of the existing corporate governance structure on the investment in science and technology,followed by the impact of science and technology investment on business performance,in addition to the corporate governance structure of science and technology investment performance and the relationship between the impacts of research.On the basis of the literature research,this paper discusses the ways and means of the relationship between the investment structure and the performance of the corporate governance structure in the five aspects of the equity,the board of directors,the incentive mechanism,the board of supervisors and the capital structure by referring to the principal-agent theory and the theory of technological innovation and put forward the research hypothesis,the establishment of empirical model.Put forward the relevant suggestions,and pointed out the limitations and prospects of the article.The main innovation of this paper adopts the new perspective,at different levels,the whole corporate governance as a framework,in this framework to discuss the key elements of corporate governance structure of science and technology investment and performance impact.This conclusion is obtained through empirical analysis and obtained by means of professional software.The result is true and reliable.It can be used to guide China's listed companies to improve their own management structure,improve their investment in science and technology,and increase the recovery rate of business performance.The optimization and transformation,and promote enterprise efficient,scientific and healthy operation.