The Relationship between CEO Characters and R&D Expenditure Based on Upper Echelon Theory
KANG Hua1,2,WANG Lu-ping1,2, KANG Jian3
(. School of Management Xi’an Jiaotong University; 2. The Key Laboratory of the Ministry of Education for Process Control andEfficiency Projects, Shaanxi Xi’an 710049;3. Xi’an Polytechnic University, Shaanxi Xian 710048, China)
Abstract:
This paper investigates the impact of CEO characters on R&D expenditure with a pooled data sample of the 806 publicly listed Chinese companies for the period 2005-2008. It is found that CEO’s education, duality and political experience are significantly positive to R&D expenditure. But work experience of CEO such as technology, research and marketing of CEO is significantly negative to R&D expenditure.
KANG Hua, WANG Lu-ping, KANG Jian.The Relationship between CEO Characters and R&D Expenditure Based on Upper Echelon Theory[J] Economic Survey, 2012,V1(6): 82-86