高管团队稳定性对企业数字化转型的影响研究  

Research on the Stability of Top Management Team on Enterprise Digital Transformation

作　　者：张信东[1] 吕旭升 ZHANG Xin-dong;LV Xu-sheng

机构地区：[1]山西大学经济与管理学院

出　　处：《科学决策》2025年第1期106-124,共19页Scientific Decision Making

基　　金：国家自科基金(72372093)。

摘　　要：数字化转型已成为推动传统动能升级、孕育发展新动能的关键途径。企业作为数字化转型的实践主体,高管团队在其中起着至关重要的引领作用。本文聚焦高管团队的稳定性,以2010-2022年中国A股上市公司为研究样本,运用多元线性回归方法对高管团队稳定性如何影响企业数字化转型及效果进行实证分析。研究发现:高管团队稳定性有效促进了企业的数字化转型,技术创新水平和高管短视主义在二者关系之间起中介作用。异质性分析表明,高管团队稳定性对企业数字化转型的影响在产权属性、企业风险承担水平、战略激进度方面存在差异。本研究为企业洞察维持高管团队稳定性带来的价值效益,以及借助数字技术助推转型发展提供了决策参考。Digital transformation has become a key way to promote the upgrading of traditional kinetic energy and breed new kinetic energy for development.Enterprises,as the main body of digital transformation practice,the executive team plays a crucial leading role in it.This paper focuses on the stability of the executive team,and takes A-share listed companies in China from 2010 to 2022 as the research sample,and empirically analyses how the stability of the executive team affects the digital transformation of enterprises and its effect by using multiple linear regression method.The study finds that executive team stability effectively promotes corporate digital transformation,and the level of technological innovation and executive myopia mediate the relationship.Heterogeneity analyses show that the effect of executive team stability on corporate digital transformation varies in terms of ownership attributes,corporate risk-taking level,and strategic aggressiveness.This study providesfirms with insights into the value benefits of maintaining executive team stability,as well as a decision-making reference for fuelling transformation with digital technology.

关 键 词：高管团队稳定性 企业数字化转型 企业技术创新 高管短视主义 

分 类 号：F270[经济管理—企业管理]