冗余资源、制度环境与企业绩效——来自沪深股市制造业公司的证据  

Slack Resources,Institutional Environment and Corporate Performance

作　　者：朱向群 张斌[2] 徐琳[2] ZHU Xiang-qun;ZHANG Bin;XU Lin(Anhui Xinhua University,Hefei Anhui 230088,China;Anhui University of Finance and Economics,Bengbu Anhui 233030,China)

机构地区：[1]安徽新华学院商学院,安徽合肥230088 [2]安徽财经大学工商管理学院,安徽蚌埠233030

出　　处：《铜陵学院学报》2022年第6期49-52,101,共5页Journal of Tongling University

基　　金：安徽省高校人文社科研究重点项目“在职消费、反腐败与盈余管理”(SK2019A0473);安徽省高校人文社科研究重点项目“反腐败提升国有企业绩效了吗?——基于内部控制视角的研究”(SK2020A0023)。

摘　　要：冗余资源是企业绩效实现的物质基础,但二者之间的转化关系受到内外部诸多因素的影响,尤其是经济转型时期资源错配现象现实存在,不利于企业绩效的提升。文章以沪深股市制造业上市公司为样本,探索冗余资源与企业绩效的关系,重点考察制度环境的潜在作用,发现冗余资源与企业绩效之间呈倒U型关系,制度环境则对二者关系起到积极调节作用,具体表现为在倒U型关系临界点的左侧正向调节冗余资源与企业绩效之间的正向关系,在倒U型关系临界点的右侧负向调节冗余资源与企业绩效之间的负向关系。The slack resources are the material foundation of the firm performance,but the transformation relationship between them is affected by many internal and external factors,especially the mismatch of resources exists in the period of economic transformation is not conducive to the promotion of firm performance.Taking the manufacturing companies in Shanghai and Shenzhen Stock Markets as samples,this paper explores the relationship between slack resources and firm performance,focusing on the potential role of institutional environment,and finds the inverted U-shaped relationship between slack resources and firm performance,the institutional environment positively regulates the relationship between slack resources and firm performance on the left side of the critical point of the inverted U-shaped relationship,and the institutional environment negatively regulates the relationship between slack resources and firm performance on the right side of critical point of the inverted U-shaped relationship.

关 键 词：冗余资源 制度环境 企业绩效 

分 类 号：F270.3[经济管理—企业管理]