企业绿色转型的非正式制度动因研究——来自高管地缘关系视角的证据  

Study on the Informal Institutional Drivers of Corporate Green Transformation:Evidence from the Perspective of Executives’Geographic Ties

作　　者：王星月 汪涛 冯巧根[1] WANG Xingyue;WANG Tao;FENG Qiaogen(School of Business,Nanjing University,Nanjing 210093,China)

机构地区：[1]南京大学商学院,江苏南京210093

出　　处：《经济经纬》2025年第1期80-92,共13页Economic Survey

基　　金：国家自然科学基金重点项目(71732002);江苏省社科应用研究精品工程课题(21SYC-028)。

摘　　要：基于高管地缘关系视角,选取2009—2023年沪深A股上市公司作为研究样本,探究了CEO家乡地与企业所在地不一致,即外地CEO对于企业绿色转型的影响效应和作用机制。研究发现,外地CEO能够显著推动企业绿色转型。机制检验表明:外地CEO通过缓解管理层短视、提高企业风险承担能力并增加冗余资源丰腴度,进而改善企业在绿色转型过程中面临的“意愿”“能力”和“资源”困境。基于利益相关者绿色关注视角的进一步分析发现,地方政府、社交媒体以及投资者的绿色关注度越高,外地CEO对于企业绿色转型的推动效应更加明显。研究结论揭示了非正式制度动因对企业绿色转型有重要影响,为深入理解人才有序有效流动以促进国家绿色发展具有积极意义,为完善人才跨地区流动政策提供微观企业层面的经验参考。From the perspective of executives’geographical ties,this study selects listed companies on the Shanghai and Shenzhen A-share markets from 2009 to 2023 as the research sample,and discusses the impact and mechanisms of CEOs from different hometowns(non-local CEOs)on the green transformation of enterprises.The study finds that non-local CEOs can significantly promote corporate green transformation.The mechanism test indicates that non-local CEOs can alleviate the“intention”,“capability”,and“resource”dilemmas faced by enterprises during the green transformation process by mitigating managerial myopia,enhancing the company’s risk-taking ability,and increasing the abundance of redundant resources.Further analysis from the perspective of stakeholders’green focus finds that the higher the green focus from local governments,social media,and investors,the more pronounced the promoting effect of non-local CEOs on corporate green transformation.Further analysis at the regional level reveals that the promoting effect of non-local CEOs on corporate green transformation is more pronounced in the eastern regions.This study uncovers the significant impact of informal institutional drivers on corporate green transformation,offering micro-level empirical references for a deeper understanding of the positive significance of orderly and effective talent mobility for national green development,and for refining policies on talent mobility across regions.

关 键 词：高管地缘关系 外地CEO 绿色转型 非正式制度 管理层短视 风险承担 

分 类 号：F272[经济管理—企业管理]