董事会非正式层级、机会响应与企业创新效率  

Informal Hierarchy of Board of Directors,Opportunity Response and Enterprise Innovation Efficiency

作　　者：吕桁宇 马春爱[1] 汤桐 曹梦瑶 Lyu Hengyu;Ma Chunai;Tang Tong;Cao Mengyao(School of Economics and Management,China University of Petroleum(Beijing),Beijing 102249,China)

机构地区：[1]中国石油大学(北京)经济管理学院,北京102249

出　　处：《科技进步与对策》2024年第5期50-59,共10页Science & Technology Progress and Policy

基　　金：国家社会科学基金面上项目(18BGL072)。

摘　　要：董事会非正式层级是影响企业治理能力与创新效率的关键因素。采用“结构—响应—效率”研究范式与中介效应检验方法,以2007—2020年中国A股上市公司为样本,实证研究董事会非正式层级对企业创新效率的影响及作用机制。结果表明,董事会非正式层级与企业创新效率呈显著正相关关系;董事会非正式层级与企业创新机会响应呈显著正相关关系;董事会非正式层级通过激励企业创新机会响应促进创新效率提升。在国家创新驱动发展战略背景下,结论有助于打开董事会内部互动过程的“黑箱”,深化董事会非正式层级影响机制研究,为优化董事会治理结构、提升企业创新效率提供实践启示。With the constant changes in the international environment and increasingly fierce market competition,it is crucial for enterprise to improve their innovation efficiency,and how to improve innovation efficiency through optimizing enterprise governance structure has become the key.There are no institutional constraints in the informal hierarchy of the board of directors as a recessive force,and it plays the same role as the formal hierarchy,and has become a key factor affecting corporate governance and innovation efficiency.At present,the research on the effect of informal hierarchical governance of the board of directors focuses on the quantity of innovation scale,the direct impact and influencing factors of the informal hierarchy of the board of directors,and the transmission path of the informal hierarchy governance effect of the board of directors needs further exploration.Therefore,drawing on the relational contract theory,the organizational hierarchy theory and the dynamic capability theory,this paper analyzes the impact of the informal hierarchy of the board of directors on enterprise innovation efficiency and its mechanism under the Chinese social and cultural background and explores the role of opportunity response in the impact.Specifically is the informal hierarchy of the board of directors conducive to the improvement of enterprise innovation efficiency?If it is conducive to the improvement of enterprise innovation efficiency,does it improve the innovation efficiency of enterprises by conducting the decision-making behavior of the board of directors through opportunity response?This paper selects the Chinese A-share listed companies from 2007 to 2020 as the initial sample,and finally obtains 17114 sample observations.The study follows the research paradigm of"structure-response-efficiency"and adopts the test method of mediating effect.It verifies the hypothesis by defining variables and constructing a multiple linear regression model to conduct an empirical study on the impact of informal board of dire

关 键 词：董事会非正式层级 机会响应 创新效率 中介效应 

分 类 号：F273.1[经济管理—企业管理]