【中文摘要】本文从影响个体行为的一个重要内在特征——主观社会地位的视角分析中国私营企业家的创新投入行为。基于全国私营企业调查二十余年数据（ 1993～2014 年）的研究结果显示：①中国只有 1/3 的私营企业进行创新投入，年平均创新投入强度只有销售收入的 1%，即使只对有创新投入的私营企业进行统计，私营企业的研发投入也只占销售收入的 2.39%；②中国私营企业家自认为其在中国社会中的经济、社会和政治地位处于中等水平；③私营企业家的主观地位与私营企业的创新投入决策、创新投入金额及创新投入强度都有显著的正向关系，即主观地位越高的私营企业家，其在创新投入上力度越大。
【Abstract】The paper analyzes the research and development（R&D）investment decisions of Chinese private entrepreneurs from the perspective of subjective social status，which is an important inherent characteristic determining individual behavior. Based on the data of the National Private Enterprise Survey for the period of 1993-2014，our results show that（1）only one-third of private enterprises in China make R&D investments. For all private enterprises，the average ratio of annual R&D investments to total revenue is only about 1%，and this figure is 2.39% for those with non-zero R&D investments；（2）Chinese private entrepreneurs consider themselves enjoying a median level of economic，social，and political status in the hierarchy of Chinese society；（3）private entrepreneurs’ subjective status is significantly positively related to whether they make R&D investments and，if they do，the amount and intensity of their R&D investments. In other words，private entrepreneurs having a higher level of subjective social status tend to invest more in R&D.本文受到教育部人文社会科学研究基金“内部人亲属持股与交易行为的公司财务效应”（ 15YJ630171）的资助
