中国上市互联网金融企业合法化战略研究——基于组织印记和制度创业视角  

A Study on the Legitimation Strategy of Listed Internet Finance Enterprises in China——From the Perspectives of Organizational Imprinting and Institutional Entrepreneurship

作　　者：朱蓉[1] 曹丽卿 赵佳鑫 Zhu Rong;Cao Liqing;Zhao Jiaxin(Business School,Beijing Technology and Business University,Beijing 100048)

机构地区：[1]北京工商大学商学院,北京100048

出　　处：《管理评论》2022年第10期235-244,共10页Management Review

基　　金：北京市社会科学基金青年项目(17GLC072);国家自然科学基金面上项目(71972006);北京工商大学国家两科基金培育项目(LKJJ2017-04);北京市“高精尖学科建设(市级)——工商管理”项目(19005902053)。

摘　　要：创新是企业生存之本,获得市场认可的创新成为企业可持续发展的驱动力量。基于组织印记和制度创业视角,对中国上市互联网金融企业合法化战略选择及其影响因素与绩效的关系进行研究,构建了“组织印记-合法化战略-绩效”的理论模型。通过收集企业经营数据、对权威媒体报道进行内容分析等方法获取了111家中国上市互联网金融企业2014—2017年的数据,运用面板数据的多元回归分析等方法进行实证检验。研究发现:行业经验对合法化战略和企业绩效有正向影响,且合法化战略,即依从型和操纵型战略具有部分中介作用;法律环境负向调节行业经验与绩效以及依从型战略与绩效的关系。将组织印记、企业合法化战略及组织绩效联系起来,延伸了对组织合法性这一制度理论核心议题的研究,强调了历史意识对探究组织变革的意义,也为中国互联网金融实践提供了理论指导。Innovation is the foundation of enterprises’ survival,and innovations accepted by theh market has become a driving force for sustainable development.Form the theoretical perspectives of organizational imprinting and institutional entrepreneurship,this paper analyzes the factors affecting the legitimation strategy of Chinese listed Internet finance enterprises,explores the relationship between legitimation strategic choice and performance.We collect business data and conduct a content analysis of authoritative media reports of 111 Chinese listed Internet finance enterprises from 2014 to 2017,and test all the hypotheses by multiple regression analysis of panel data.The findings show that industry experience has a significant positive impact on legitimation strategy and corporate performance;legitimation strategies,i.e.,the conformance strategy and manipulation strategy,play a partial mediating role;and legal environment negatively moderates the relationship between industry experience and performance,and between conformance strategy and performance.By integrating organizational imprinting,legitimation strategy and organizational performance,this paper not only extends the research on organizational legitimacy as the core issue of institutional theory,but also emphasizes the significance of historical consciousness in exploring organizational change.Besides,this paper provides theoretical guidance for the practice of Internet finance in China.

关 键 词：组织印记 制度创业 合法化战略 互联网金融企业 

分 类 号：F832.51[经济管理—金融学] F832.3F724.6