非控股股东网络位置对企业创新的影响研究  

Research on the Impact of Non-Controlling Shareholders Network Location on Enterprise Innovation

作　　者：杨忠海 修雪 李瑛玫 YANG Zhonghai;XIU Xue;LI Yingmei(Harbin Engineering University,Harbin,China)

机构地区：[1]哈尔滨工程大学经济管理学院,哈尔滨市150001

出　　处：《管理学报》2025年第1期85-94,共10页Chinese Journal of Management

基　　金：国家社会科学基金资助项目(15BGL068);黑龙江省自然科学基金资助项目(LH2021G008)。

摘　　要：以2007~2020年沪深A股上市公司为样本,探究非控股股东网络位置对企业创新的影响效果和作用机制。研究发现,非控股股东网络位置能够有效促进企业创新。机制检验结果表明,非控股股东网络位置主要通过提高企业内源融资能力、改善人力资本结构和降低企业双重代理成本来促进企业创新,即非控股股东网络位置能够发挥资源效应和监督效应促进企业创新。进一步分析发现,非控股股东网络位置对企业创新的促进作用,主要体现在非国有企业、儒家传统文化浓厚地区企业和非四大审计的企业中。This study explores the effect and mechanism of the non-controlling shareholders network location on enterprise innovation based on the data of A-share listing firms in Shanghai and Shenzhen from 2007 to 2020.The results show that the non-controlling shareholders network location can effectively promote enterprise innovation.To be specific,the results of the mechanism test show that the non-controlling shareholders network location promotes corporate innovation mainly by improving the internal financing ability,improving the human capital structure and reducing the double agency cost of enterprises,that is,the network location of non-controlling shareholders can exert the resource effect and supervision effect to promote enterprise innovation.Further analysis shows that the promotion effect of non-controlling shareholders network location on enterprise innovation is mainly reflected in non-state-owned enterprises,enterprises in areas with strong Confucian traditional culture and enterprises audited by the non-Big Four.

关 键 词：非控股股东 网络位置 企业创新 资源效应 监督效应 

分 类 号：C93[经济管理—管理学]