摘要
在动态的商业环境中,企业需要持续研发投入来获取、维持竞争优势。基于2005—2017年我国A股上市公司10194个年度观察数据,本文实证检验了高管从军经历对企业研发投入的影响。结果显示:相较于无从军经历高管运营的企业,由有从军经历高管运营企业的研发投入更多;随着产品市场竞争强度的提高,高管从军经历对研发投入的促进作用将增强;随着经营期望落差的扩大,高管从军经历对研发投入的促进作用将减弱。进一步研究发现,冗余资源将强化产品市场竞争强度对高管从军经历与企业研发投入两者关系的增强效应,同时还将弱化经营期望落差对高管从军经历与企业研发投入两者关系的减弱效应。
In today's dynamic business environment,corporates need continuous R&D investment to capture and maintain competitive advantage.Based on the 10194 yearly observation data of Chinese A⁃share listed corporates from 2005 to 2017,it empirically examined the influence of the military experience of top executives on corporate R&D input.The result shows that compared with the corporates operated by non⁃military experienced executives,corporates operated by top executives with military experience are willing to increase R&D input;the positive effect of executives’military experience on R&D input is strengthened accompanied with the enhancement of competition intensity in product market;as the performance aspiration loss enlarges,the positive effect of executives’military experience on R&D input becomes weaker.Further research indicates that redundant resources consolidate the enhancement effect of competition intensity in product market on the relationship between executives’military experience and corporate R&D input,but in the same time cripple the weakening effect of performance aspiration loss on the relationship between executives’military experience and corporate R&D input.
作者
陈伟宏
钟熙
宋铁波
周荷晖
CHEN Wei-hong;ZHONG Xi;SONG Tie-bo;ZHOU He-hui(School of Business Administration,South China University of Technology,Guangzhou 510640,China;Research Center of Chinese Corporate Strategic Management,South China University of Technology,Guangzhou 510640,China)
出处
《研究与发展管理》
CSSCI
北大核心
2019年第6期80-90,共11页
R&D Management
基金
教育部重大攻关项目“中国制造业转型升级战略研究”（15JZD020）
教育部人文社会科学研究规划基金资助项目“中国制造企业转型升级动力机制研究”（17YJA630006）
国家社会科学基金重点项目“转型升级制度压力下优势制造企业战略反应与政策”（15AGL003）
关键词
从军经历
研发投入
产品市场竞争强度
经营期望落差
冗余资源
military experience
R&D input
competition intensity in product market
performance aspiration loss
redundant resource
