动态环境调节下财务冗余结构对企业绩效的影响研究——以中国制造业为例  

The Effect of the Structure of Financial Slack on Firm Performance under Dynamic Environment——Taking Chinese Manufacturing Industry as an Example

作　　者：张晓昱[1,2] 朱慧明[1] 吴宣明[1] 

机构地区：[1]湖南大学工商管理学院,长沙410082 [2]郑州大学商学院,郑州450001

出　　处：《软科学》2014年第8期125-129,共5页Soft Science

基　　金：国家自然科学基金重点项目(71031004);国家自然科学基金面上项目(71171075);教育部留学回国人员科研启动基金项目(教外司留[2010]609);湖南省自然科学基金创新群体项目(09JJT02);湖南省研究生科研创新项目(CX2012B132)

摘　　要：从财务冗余结构出发研究财务冗余对企业绩效的影响,克服了仅研究财务冗余水平作用的局限性和不足,利用中国制造业相关数据研究组织环境对财务冗余与企业绩效关系的权变作用,结果表明:财务冗余结构与企业绩效呈倒"U"型关系。环境动态性对财务冗余结构与绩效关系具有显著的负向调节效应,环境适宜性的调节作用不显著。并在二维环境特征下,探讨了由环境动态性和适宜性构成的4个不同二维环境特征中财务冗余结构与企业绩效之间的关系,更加细致地揭示了不同组织环境对财务冗余作用的影响。This paper analyzes the effect of financial slack on firm performance from the structure of financial slack, which avoid the limitations of just considering the level of financial slack. Using the data of firms from manufacturing industry, it explore the relationship between the structure of financial slack and firm performance, and the contingency role of organiza- tional environment. The result shows that the relationship to be the inverted U-shaped. The environment dynamism has a sig- nificant negative moderating effect between them, and environment munificent don＇ t have significant moderating effect. In the two-dimensional organizational environment, it finds that relationship in four different two-dimensional environment by environment dynamics munificent, revealing the effect of financial slack on different organizational environment.

关 键 词：财务冗余 企业绩效 面板数据 动态环境 

分 类 号：F270[经济管理—企业管理]