连锁股东与企业突破式创新——基于机构投资者持股的调节效应  

Chain Shareholders and Enterprise Breakthrough Innovation:Based on the Moderating Effect of Institutional Investors’Shareholding

作　　者：王晴 张红漫[1] WANG Qing;ZHANG Hongman(School of Economics and Management,Changchun University of Science and Technology,Changchun 130000,China)

机构地区：[1]长春理工大学经济管理学院,长春130000

出　　处：《科技和产业》2024年第22期164-169,共6页Science Technology and Industry

摘　　要：近年来连锁股东现象引起学者们的广泛研究。以企业创新为切入视角,研究连锁股东对企业突破式创新的影响。实证结果显示,连锁股东与企业突破式创新显著正相关,连锁股东发挥其协同治理效应,通过为企业提供资源整合,促进企业突破式创新;调节效应检验发现,机构投资者持股正向调节连锁股东与企业突破式创新,通过发挥外部监督作用,显著促进企业突破式创新。结论丰富了连锁股东的相关文献,对企业实现突破式创新具有借鉴意义。In recent years,the synergistic effect and competitive collusion effect of the chain shareholder network have attracted extensive research from scholars at home and abroad.Based on this,from the perspective of enterprise innovation activities,the impact of chain shareholders on breakthrough innovation of enterprises was empirically studied.The results show that the chain shareholder’s network has a positive correlation with the enterprise’s radical innovation,that is,the chain shareholder’s network exerts its cooperative management function and promotes the radical innovation.The impact mechanism test finds that institutional investors’shareholding plays a positive regulatory role between chain shareholders and corporate breakthrough innovation,and significantly promotes corporate breakthrough innovation.The conclusion has enriched the related documents about the chain shareholder,and has some reference meaning for the enterprise to realize the breakthrough innovation.

关 键 词：连锁股东 突破式创新 机构投资者 网络联结 

分 类 号：F279.23[经济管理—企业管理]