摘要
高管团队冲突的产生在很大程度上取决于团队所处环境及成员间的协作方式。本文以2008-2015年我国A股上市公司为样本,采用面板数据分析方法,实证检验CEO权力和企业环境对高管差异与企业绩效间关系的调节作用。结果发现:CEO权力的存在及企业环境的稳定性会削弱高管差异对企业绩效的影响,高管差异发挥作用必须同时满足内外两大条件,二者关系在CEO权力过大或企业环境过于稳定时基本消失;CEO的适当放权及企业环境的不稳定性更有利于人力资本的发挥;我国上市企业CEO总体权力偏高,且国有企业存在环境稳定的特点,不利于激发高管团队整体的主观能动性。
The generation of conflicts between top management team largely depends on the environment in which the team is located and the way members work together. Based on 2008-2015 years sample of China＇s listed companies,this paper uses panel data analysis to verify the role of CEO power and enterprise environment on the relationship between executive differences and enterprise performance. The results show that the existence of CEO power and the stability of the enterprise environment will weaken the impact of executive differences on the performance of the enterprise,the role of senior executives will only work when it meets two conditions,and the relationship is basically disappearing when the power of CEO is too large or the enterprise environment is too stable; the appropriate decentralization of CEO and the instability of the enterprise environment are beneficial to the exertion of human capital; the overall power of CEO in China＇s listed enterprises is high,and the state-owned enterprises have the characteristics of environmental stability,which is not conducive to stimulating the subjective initiative of the executive team as a whole.
作者
张金清
肖嘉琦
ZHANG Jin-qing;XIAO Jia-qi(School of Economics,Fudan University,Shanghai 200433,China)
出处
《商业研究》
CSSCI
北大核心
2018年第8期125-132,共8页
Commercial Research
基金
国家自然科学基金项目
项目编号:71471043
71771056
关键词
高管团队
企业绩效
背景特征差异
CEO权力
企业环境
top management team
enterprise performance
background feature differences
CEO power
enterprise environment
