不同动态环境下高技术企业"智-治"交互效应研究  

Investigating the Interaction Effects of Intellectual Capital and Corporate Governance in High-technology Enterprises under Different Dynamic Environments

作　　者：杨涵岩 王雪莹 余艳[1] YANG Hanyan;WANG Xueying;YU Yan(Renmin University of China,School of Information,Beijing 100872,China;Beihang University,School of Economics and Management,Beijing 100191,China)

机构地区：[1]中国人民大学信息学院,北京100872 [2]北京航空航天大学经济管理学院,北京100191

出　　处：《信息系统学报》2023年第2期111-127,共17页China Journal of Information Systems

基　　金：国家自然科学基金项目“工业互联网使能制造企业数字创新:动能、治理与价值创造”(72172155);中国人民大学科学研究基金(中央高校基本科研业务费专项资金资助)项目(23XNA032)。

摘　　要：本文立足于企业资源学理论,结合企业内公司治理和产业环境动态性,构建"智-治"模型.选择计算机、通信和其他电子设备制造业和医药制造业下538家上市公司进行实证分析与对比,结果表明智力资本显著提升企业价值,健全的公司治理体系将可以与智力资本发生良性交互以促进企业价值提升.在相对高动态的产业环境下,公司治理将强化智力资本对企业价值的提升效应;在相对稳定的产业环境下,公司治理有可能会削弱智力资本对企业价值的提升效应.Based on the resource-based view,this paper develops the“intelligence-governance”model by incorporating intellectual capital with the internal corporate governance and the external environmental dynamism.This study collected data from 538 listed companies that were operated in the computer telecommunication manufacturing industry and the pharmaceutical manufacturing industry in China.The empirical findings show that intellectual capital can significantly enhance the value of enterprises,meanwhile the wholesome corporate governance can strengthen the contribution of intellectual capital for improving organizational value.In a relative-higher dynamic industrial environment,corporate governance will strengthen the enhancing effect of intelligence capital on firm value;while in a relatively stable industrial environment,such an enhancing effect of intelligence capital on firm value will be weakened by corporate governance.

关 键 词：智力资本 公司治理 环境动态性 高技术企业 

分 类 号：C939[经济管理—管理学]