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通过中国上市医药企业2012~2015年间的数据,探索公司治理对医药上市企业创新价值创造率的影响机制,将公司治理划分为控制权分配、科学决策和激励约束三大方面,利用SFA测算和非效率项的影响分析,发现公司治理对创新价值创造率的影响集中体现在当期,两职合一、精简高效的董事会规模和高管激励表现出了积极的正向促进作用,表明我国医药企业想要提高创新价值创造率可在公司治理结构调整方面付出努力。
Through the data of listed pharmaceutical companies in China from 2012 to 2015, this paper explores the influence mechanism of corporate governance on the innovation value creation rate of listed pharmaceutical companies, divides corporate governance into three aspects: the distribution of control rights, scientific decision-making and incentive and restraint, Efficiency of the impact of corporate governance and found that the impact of corporate governance on innovation value creation rate embodied in the current, one of the two positions, streamlined efficient board of directors and executive incentives showed a positive positive role in promoting, indicating that China’s pharmaceutical companies want To improve the creative value of the rate of innovation in the corporate governance structure adjustment efforts.