Abstract: Choosing the high-tech enterprises in China from 2007 to 2010 as a study sample, we explore the relationship between the entrepreneurs’ technical educational background and the R&D investment based on the higher-order theory. We find that compared with the entrepreneurs with irrelevant background, the entrepreneurs with technical educational background are willing to pay more on the R&D investment. Moreover, this kind of promotion from the entrepreneurs is far more significant when the enterprises are facing the financial constrains, and is more favorable to improving the enterprises’ performance in the future. The conclusion we draw in this paper may give a implication in the management appointment and R&D decision in high-tech enterprises.

摘要： 本文基于高阶理论以我国2007至2010年间高新技术企业为研究样本，从受教育的专业背景角度出发，验证了我国企业家的技术专业背景对研发投入以及投入绩效的影响。研究发现：技术背景的企业家相比与其它背景企业家有更多的研发投入，并且这种促进作用在企业面临融资约束时更为显著，企业家技术背景对研发投入的这种促进更有利于提高企业未来的绩效。本文的研究为高新技术企业管理层的任命决策以及研发效益的长远看待有着重要的启示意义。