管理者能力与企业创新:基于上市公司的实证  

Managerial Competence and Enterprise Innovation: Empirical Study of Listed Companies

作　　者：梁安琪 武晓芬[1] Liang Anqi;Wu Xiaofen(School of Business Administration and Tourism Management,Yunnan University,Kunming 650000,China)

机构地区：[1]云南大学工商管理与旅游管理学院,昆明650000

出　　处：《统计与决策》2020年第9期159-164,共6页Statistics & Decision

基　　金：一流本科创新人才培养项目(C176230100)。

摘　　要：文章以2013—2017年我国A股上市企业数据为样本,研究了管理者能力与企业创新之间的关系。结合管理防御理论,研究发现,管理者能力与企业创新投入和产出呈“U”型关系。即当管理者能力处于较低的水平时,出于研发失败和短期业绩考虑,管理者会抑制企业创新,而在能力较强时才会加大企业创新力度。同时,企业内外部治理环境对管理者行为有约束作用,企业外部良好的金融生态环境、企业股权集中度和股权激励均对管理者能力与企业创新投入之间的关系起正向调节作用。This paper takes the data of A-share listed enterprises from 2013 to 2017 as a sample to analyze the relationship between managerial ability and enterprise innovation.Based on the management defense theory,the research finds that the relationship between the management capability and enterprise innovation investment and output is U-shaped.In other words,when managers'capability is at a low level,they will restrain enterprise innovation due to the consideration of R&D failure and short-term performance,while they will strengthen enterprise innovation when their capability is strong.At the same time,the internal and external governance environment of an enterprise has a restraining effect on the behavior of the management.Good external financial environment,corporate ownership concentration and ownership incentive all play a positive regulating role in the relationship between managers'capability and innovation investment.

关 键 词：管理者能力 企业创新 治理环境 

分 类 号：F272[经济管理—企业管理]