组织韧性影响企业创新效率机制及其异质性探讨——基于中国A股上市“专精特新”公司样本数据的实证检验  

Exploring the Mechanism and Heterogeneity of Organizational Resilience on Enterprise Innovation Efficiency:An Empirical Test Based on Sample Data of SRDI Listed Companies in the Chinese A-share Market

作　　者：高智林 杨雅雯 谭文浩[2] GAO Zhilin;YANG Yawen;TAN Wenhao

机构地区：[1]安徽师范大学经济管理学院 [2]南京财经大学会计学院

出　　处：《中央财经大学学报》2025年第2期139-160,共22页Journal of Central University of Finance & Economics

基　　金：安徽省哲学社会科学规划项目“企业财务弹性政策对绿色技术创新的影响机制研究”(AHSKY2022D126);安徽省高等学校科研计划重点项目“企业数字化转型对绿色技术创新的影响机制研究”(2022AH050145)。

摘　　要：组织韧性影响企业创新效率的机制存在异质性。笔者根据动态能力理论,以中国2013—2022年A股上市“专精特新”公司为研究样本的有效数据,运用数据包络分析法,从绩效增长和财务波动两个维度实证检验了组织韧性与企业创新效率之间的关联性及其异质性。检验结果证实:企业财务波动与创新效率负相关,企业绩效增长与创新效率正相关;缓解企业融资约束和提升企业动态能力部分中介组织韧性对企业创新效率的影响;组织韧性影响企业创新效率的机制反映在不同地区、不同所有制、不同行业以及不同创新效率水平上均具有异质性。本研究以中国“专精特新”企业组织韧性的绩效增长和财务波动两大动态能力指标的有效数据实证检验与其核心竞争力——创新效率之间的关联性,拓展了动态能力理论的应用边界,丰富了企业治理理论和企业战略管理理论的现有相关文献,研究结论有助于为企业增强组织韧性以便在动态、复杂、不确定的环境下提高创新效率提供理论依据。The mechanism by which organizational resilience affects innovation efficiency in enterprises exhibits heterogeneity.Based on the theory of dynamic capabilities,the author used effective data from“specialized,refined,differential,and innovative”(SRDI)companies listed on the A-share market in China from 2013 to 2022 as research samples.Using data envelopment analysis,the author empirically tested the correlation and heterogeneity between organizational resilience and corporate innovation efficiency from two dimensions:performance growth and financial volatility.The test results confirm that financial fluctuations in enterprises are negatively correlated with innovation efficiency,while performance growth is positively correlated with innovation efficiency;The impact of partial intermediary organizational resilience on enterprise innovation efficiencyby alleviating financing constraints and enhancing their dynamic capabilities;The mechanism by which organizational resilience affects innovation efficiency in enterprises is reflected in heterogeneity across different regions,ownerships,industries,and levels of innovation efficiency.This study empirically tests the correlation between the performance growth and financial volatility of two dynamic capability indicators of Chinese SRDI enterprises and their core competitiveness-innovation efficiency.It expands the application boundaries of dynamic capability theory and enriches the existing literature on strategic management theory.The research conclusions help provide a theoretical basis for enterprises to enhance organizational resilience and improve innovation efficiency in dynamic,complex,and uncertain environments.

关 键 词：组织韧性 创新效率 “专精特新”企业 融资约束 动态能力 

分 类 号：F273.1[经济管理—企业管理]