修身治企:管理者义利观与公司经营业绩  

Managers’Self-discipline:YiLi Values and Firm’s Performance

作　　者：郭姗 吕长江[1] 林琦 Guo Shan;Lyu Changjiang;Lin Qi(School of Management,Fudan University;School of Management,Guangzhou University)

机构地区：[1]复旦大学管理学院 [2]广州大学管理学院

出　　处：《南开管理评论》2025年第4期146-157,共12页Nankai Business Review

基　　金：国家自然科学基金项目(72432001、72472031)资助。

摘　　要：中国传统文化蕴含着丰富的管理思想,成为现代企业创造财富的精神力量。然而,已有研究多使用注疏或定性分析,极少通过科学计量的方式构建理论并予以检验。本文从传统文化中的“义利观”切入,在对其进行典籍梳理和理论分析的基础上,利用文本分析与机器学习方法,从公开报告中提取公司管理者的义利观,并检验这一价值理念如何影响公司经营表现。研究发现,管理者在经营活动中对合作方利益的关注能够揭示他们对义利关系的权衡——关注程度越高,表明其“义利并重”的理念越强,反之则意味着其更加“重利”而“轻义”。进一步,本文以2007~2022年的上市公司为样本进行实证检验,发现“义利并重”的理念越强,公司业绩表现越好,并且这种价值观能够通过约束管理者的自利行为、增加合作方的信任与资源支持等路径发挥作用,符合典籍与文献的理论预期。本研究不仅为未来传统管理思想研究提供了新的量化参考,也为理解中国现代企业的发展奇迹提供了本土管理文化的新视角。Over forty years of reform and opening up have propelled Chinese enterprises from nonexistence to prominence,creating a development miracle.Interpreting this phenomenon through the lens of management theory,particularly from the perspective of indigenous Chinese management culture,necessitates a profound understanding of traditional Chinese cultural core concepts and values.This approach also benefits from integrating the rational spirit of logical argumentation and empirical inference that characterizes Western culture.However,traditional Chinese scholarship often expresses insights in commentary form,relying on intuitive judgments and qualitative analysis,thus lacking a scientific quantitative approach for theory construction and validation.These methodological limitations constrain the reliability,replicability,and accuracy of findings in this field,prompting this study to address these research gaps.This paper explores the concept of“justice-profit views”(YiLi values)for several reasons:firstly,analyzing the relationship between justice and profit forms a central proposition in ancient philosophical thought;secondly,the traditional cultural value of restraining personal desires and achieving mutual benefits continues to be an integral part of the Chinese value system and represents a governance model that prioritizes stakeholders,setting Chinese enterprises apart from their Western counterparts;thirdly,the philosophy of balancing justice and profit is manifest in both historical and contemporary successful business practices,including those of successful Japanese entrepreneurs.Utilizing Management Discussions and Analyses(MD&A)as source texts,we employ textual analysis and machine learning methods(i.e.,Word2Vec)to construct indicators for measuring executives’YiLi values.A series of validity tests were conducted:(1)using a small sample of chairman interviews to validate that the textual characteristics of public reports accurately reflect executives’views;(2)testing the consistency between executives�

关 键 词：义利观 本土管理文化 文本分析 机器学习 公司业绩 

分 类 号：F272.3[经济管理—企业管理]