Analysis of Corporate Governance and Technological Innovation based on a Certain Industry

Abstract

According to the importance degree of technological innovation in different industries, factors and intensity influencing innovation are different. Enterprises should have a matching corporate governance structure to carry out effective innovation activities. Using data of Chinese listed companies from 2015 to 2018, this paper analyzes and compares the impact of corporate governance on technological innovation in labor-intensive, capital-intensive and technology-intensive industries. Results show both similarities and differences exist in the relationship between corporate governance and technological innovation in the three industries. Previous literatures mainly focused on the relationship between corporate governance and innovation in a single industry, ignoring the comparison among different industries. By analyzing differences among industries, this paper proposes corporate governance should be matched with the characteristics of industries to better improve innovation, which is the application and expansion of the corporate governance theory in the field of innovation.