隐性契约——董事长和总经理老乡关系如何影响公司创新?  

Implicit Contract—How Does the Fellow-Townsman Relationship between the Chairman and the General Manager Affect the Corporate Innovation?

作　　者：王世权[1] 汪炫彤 李芊霖 Wang Shiquan;Wang Xuantong;Li Qianlin

机构地区：[1]东北大学工商管理学院,辽宁沈阳110004

出　　处：《河南社会科学》2024年第2期90-102,共13页Henan Social Sciences

基　　金：国家教育部哲学社会科学研究后期资助(重大项目)“利益相关者治理理论研究:基于中国上市公司的实验证据”(18JHQ013);辽宁省社会科学规划基金重大委托项目“促进国企民企外企竞相发展,培育壮大市场主体研究”(L23ZD037)。

摘　　要：老乡关系普遍存在于中国上市公司高管团队内部,通过影响人际交往中的互动原则,以一种非正式契约形式作用于公司战略决策,但对其影响机制研究仅停留在基于信任和规范角度的理论探索和推理层面。基于社会交换理论和关系交换理论,以董事长—总经理老乡关系为切入点,探讨董事长与总经理老乡关系对公司创新的影响。研究发现:董事长—总经理老乡关系正向影响公司创新;任期重叠作为一种内部资本,在董事长—总经理老乡关系对公司创新的影响中起中介作用;环境不确定性负向调节董事长—总经理老乡关系对公司创新的影响。研究剖析了中国独特的“同乡抱团”文化现象背后的公司治理效应,提出的董事长和总经理老乡关系影响公司创新的理论模型,是对非正式关系影响机理研究与创新前因研究的有益补充,也为公司利益相关者各方洞悉我国独特的“关系型社会”制度背景对公司治理的规制作用提供新的实证依据。The fellow-townsman relationship generally exists in the senior management team of Chinese listed companies,which affects the company’s strategic decision-making in the form of informal contract by influencing the interaction principle in interpersonal communication,but the research on its influence mechanism only stays at the level of theoretical exploration and inference based on the aspects of trust and norms.Based on social exchange theory and relationship exchange theory,this study takes the fellow-townsman relationship between the chairman and the general manager as the starting point to explore the impact of the fellow-townsman relationship between the chairman and the general manager on corporate innovation.It is found that the fellow-townsman relationship between the chairman and the general manager has a positive impact on corporate innovation.As an internal capital,overlapping tenure plays an intermediary role in the impact of the fellow-townsman relationship between the chairman and the general manager on corporate innovation.And environmental uncertainty negatively regulates the impact of the fellow-townsman relationship on corporate innovation.The research analyzes the corporate governance effect behind the cultural phenomenon of the unique“fellow townspeople holding a group”in China,puts forward the theoretical model of the chairman and general manager’s fellow-townsman relationship affecting corporate innovation,which is a useful supplement to the research on the influence mechanism of informal relationship and the antecedents of innovation,and also provides new empirical evidence for all stakeholders of the company to understand the regulatory role of institutional background of China’s unique“relational society”on corporate governance.

关 键 词：老乡关系 公司创新 任期重叠 环境不确定 

分 类 号：F2[经济管理—国民经济]