Research on the Moderating Effect of Corporate Governance on the Technology Innovation and Corporate Performance

It is found in the empirical test, in the collection of data about 5,536 A-share listed companies from 2012 to 2013 and by use of the hierarchical panel regression and grouping panel regression, on the moderating effect of corporate governance on the technology innovation and corporate performance that the ratio of state-owned share, ownership concentration, check-and-balance ownership structure, and the ratio of managerial ownership are all demonstrated as the half moderator variables, four of which are in the complementary relationship with the technology innovation, and the ratio of independent directors, the number of meetings in a year respectively held by the board of directors and the board of supervisors as well as by shareholders, and the managerial cash pay are all not as moderator variables.