Ownership Concentration,R&D Intensity and Entrepreneurial Enterprise Growth-Evidence from Shenzhen Gem Market

Applying the unbalanced panel data of listed companies from Shenzhen GEM as sample,discussing the relationship between ownership concentration,R&D intensity and entrepreneurial enterprise growth. The empirical results show that R&D intensity significantly promotes the growth of China's start-up enterprises. Ownership concentration has significant negative influence both on the growth and R&D intensity of entrepreneurial enterprises. R&D intensity has conducted partial influence of ownership concentration on enterprise growth,which means that there is a mediating effect among this three. The conclusion provide evidence for firms' R&D investment and ownership governance decision.