政治关联对研发投资的影响:促进还是抑制  

Impact of political connection on R&D investment: Promotion or impediment?

作　　者：陈爽英[1] 傅锋 井润田[2] Chen Shuangying;Fu Feng;Jing Runtian(School of Management and Economics,University of Electronic Science and Technology of China,Chengdu 611731,Sichuan,China;Antai College of Economics and Management,Shanghai Jiao Tong University,Shanghai 200030,China)

机构地区：[1]电子科技大学经济与管理学院,四川成都611731 [2]上海交通大学安泰经济与管理学院,上海200030

出　　处：《科研管理》2020年第1期184-192,共9页Science Research Management

基　　金：国家自然科学基金面上项目:“平台企业的网络治理能力及其作用机制研究”(71672020,2017.01-2020.12);国家自然科学基金面上项目:“企业融合多元化行为与成长研究:跨界活动、动态能力和协同演进”(71572027,2016.01-2019.12);国家自然科学基金面上项目:“创新如何开放:基于组织控制的研究”(71472023,2015.01-2018.12);国家自然科学基金重点项目:“变革环境下中国企业领导行为研究”(71432005,2015.01-2019.12)

摘　　要：学者不断探讨政治关联在中国新兴市场中的价值,然而研究结论并不一致。基于嵌入观和情景理论,本文探讨私营企业家政治关联对企业研发投资的作用,以及企业家经济地位和企业规模对该作用的调节效应。基于2004年、2006年、2008年三轮全国私营企业调查形成的混合截面数据,运用Tobit回归模型,实证研究得出企业家政治关联对企业研发投资影响是倒U型作用;且企业家经济地位、企业规模均会削弱该倒U型作用。本文拓展了新兴市场中的政治关联理论以及其战略价值的研究,且研究结论对于中国企业的创新投资有实践指导价值。Political connection has an important effect on firm value or firm action during economy transition in China. Many scholars have studied the value of political connection in emerging market based on Chinese listed firms,while the results are inconsistent. Drawing upon the embeddedness perspective and contingency theory,this study aims to examine how entrepreneurs’ political connection influences private firms research and development(R&D) investment in emerging market,especially in the contingency on entrepreneurs’ economic status(individual character) and firms size(organizational character).Political connection between business leaders and political institutions,is one form of political embeddedness usually through participation in national or local political entities. Specifically,entrepreneurs in China usually embed themselves at PC or PPCC of different administrative hierarchy by elected as member in either of the two political entities at local or center level,and gain the different strength of political connection. According to our conceptualization,entrepreneurs’ political connection can affect R&D investment in two different ways. One effect is positive role and increases R&D investment,and the other effect is restraining role of over-embeddedness and decreases initiating R&D investment. In the positive way,political connection can promote R&D investment by broadening external resource access and decreasing political harassment for R&D choice. Yet,the embeddedness literature also suggests that over-embeddness may derail economic activity. Entrenched political connection may cause entrepreneurs to devote more efforts or resources to rent-seeking activities instead of R&D investment. Thus,the hypothesis is that entrepreneurs’ political connection has an inverted U-shaped relationship with firm’s R&D investment. Moreover,the hypotheses also predict that both entrepreneurs’ economic status and firms’ size will diminish inverted U-shaped relationship between political connection and firms R&D in

关 键 词：政治关联 研发投资 企业家经济地位 企业规模 

分 类 号：F276.5[经济管理—企业管理] C939[经济管理—国民经济]