%A GU Qun, WU Zong-yao, WU Jin-dan %T Nature of Ownership,Female Executive Participation and R&D Investment-The Evidence from Technology-Based SMEs %0 Journal Article %D 2016 %J Journal of Guizhou University of Finance and Economics %R %P 94-100 %V 35 %N 01 %U {https://gcxb.gufe.edu.cn/CN/abstract/article_8979.shtml} %8 2017-01-15 %X Based on Upper Echelon Theory, taking listed companies in Shenzhen Stock Exchange from 2008 to 2014 as samples, this paper analyzes the impact of female executive participation on the R&D investment. The nature of ownership plays a significant moderating role. This study finds out that female executive participation has a significant negative effect on R&D investment. In private enterprises, female executive participation has a stronger impact on R&D investment.