制度环境、CEO权力与企业战略风格  

Institutional Environment,CEO Power,and Strategic Style

作　　者：周建[1,2] 许为宾[1,2] 余耀东[1,2] 

机构地区：[1]南开大学中国公司治理研究院 [2]南开大学商学院

出　　处：《管理学报》2015年第6期807-813,共7页Chinese Journal of Management

基　　金：国家自然科学基金资助项目(71272184)

摘　　要：检验CEO权力强度如何影响企业战略风格,以及这种影响在不同的制度环境中是否存在差异。研究发现:CEO权力越大,战略风格越趋向于风险型;反之,CEO权力越小,战略风格越趋向于稳健型。制度环境负向调节CEO权力强度与企业战略风格之间的关系。即在其他条件相同的情况下,相对于地区制度环境约束性较强的公司,CEO权力强度对企业战略风格的影响在地区制度环境约束性较弱的公司中更为显著。进一步检验发现,企业战略风格越趋于风险型,企业绩效波动性越大;而企业战略风格在CEO权力与企业绩效波动性之间发挥中介作用。This study examines how CEO power affects the enterprise strategic style, and whether the impacts are different under different institutional environments. It is found that when the CEO power is greater, the enterprise strategic style become more risk; when the CEO power is smaller, the enterprise strategic style become more stable; when the impact is more significant, institutional envi- ronment constraints are weaker. There is a significantly positive correlation between the aggressive style of enterprise strategy and corporate performance variability. And the enterprise strategy style plays an intermediary role between CEO power and corporate performance variability.

关 键 词：CEO权力 制度环境 战略风格 企业绩效 

分 类 号：C93[经济管理—管理学]