Abstract: This paper selects listed companies R&D investment data from 2007 to 2013, uses Univariate grouped difference test and multivariate regression analysis to study the influence of corporate control and industry competition on R&D intensity. The study found that the nation as major shareholder, legal entity as major shareholder, ownership concentration, nation as actual controller, the separation between ownership and control has a negative impact on the company’s R&D intensity. and the equity balance, institutional ownership has a positive impact on the company's R&D investment intensity. and the major shareholder’s equity has a weakly nonlinear effect on R&D intensity. The study also found that the company's market share has a negative impact on the R&D intensity, and the industry competition has a positive effect on R&D intensity. and from the interactive perspective, industry competition can reduce the negative impact of the nation as major shareholder or as actual controller of company on R&D intensity, while industry competition and equity balances has a substitute impact on R&D intensity.

Key words: control, control allocation, industry competition, R&D investment intensity