Research on the Relationship among the Major Stockholder Controlling,Executive Stockholding and R&D Intensity——Empirical Research Based on Listed Companies of High and New Technology

The paper is an empirical research on relationship among the Major Shareholder Controlling,Executive Shareholding and RD Intensity based on panel data of listed companies of high and new technology from 2006 to 2010.The relationship between RD intensity and the shareholding ratio of executives is positive correlation.State-owned listed companies have significantly negative effect on the relationship between RD intensity of companies and the shareholding ratio of executives.The shareholding ratio of the first major stockholder has significant effect on the relationship between RD intensity of companies and the shareholding ratio of executives.So,we should take into consideration of impact of controlling of big-shareholder when we implement the incentive scheme of executives stock right in state-owned listed companies.