摘要
本文以2013-2018年沪深A股上市公司为研究样本,考察了高管团队重组对企业双元创新的影响。研究结果表明:高管团队重组程度越低,探索式创新和利用式创新水平越高。相较于利用式创新,高管团队重组带来的不利影响对探索式创新显著更强。因果关系在非国有企业、发生核心高管变更的企业以及业务复杂度较高的企业中更为明显。本文进一步对内部控制质量这一中介机制的考察发现:高管团队重组弱化了内部控制五要素的表现,降低了内部控制的质量,破坏了企业赖以创新的环境和条件,进而不利于双元创新尤其是探索式创新。本文的研究有助于认识稳定高管团队的重要性及其发挥作用的内在机理,并对提高企业创新投资水平有明晰的启示意义。
This paper selects the non-financial listed companies of Shanghai and Shenzhen A-shares from 2013 to 2018 as a research sample,and investigates the impact of top management team(TMT)recomposition on the dual innovation of enterprises.The results show that:the lower the degree of TMT recomposition,the higher the exploratory innovation investment and the exploitative innovation investment.Compared with exploitative innovation,the adverse effect of TMT recomposition on exploratory innovation is significantly stronger.Causality is more pronounced in non-state-owned enterprises,companies with core executive changes,and companies with higher business complexity.This paper further investigates the mediation mechanism of internal control quality and finds that:TMT recomposition weakens the performance of five elements of internal control,and reduces the quality of internal control,and destroys the environment and conditions on which enterprises rely for innovation,and is not conducive to dual innovation especially to exploratory innovation.The research of this paper is helpful to understand the importance of stable top management team and its internal mechanism,and has clear implications for improving enterprise innovation activity.
出处
《会计研究》
CSSCI
北大核心
2022年第3期93-106,共14页
Accounting Research
基金
国家自然科学基金(71702173)
国家社会科学基金(21CGL053)
河南省高校科技创新人才(人文社科类)(2020-CX-011)
河南省科技厅重点研发与推广专项(软科学研究)(222400410020)
关键词
高管团队重组
探索式创新
利用式创新
内部控制质量
Top Management Team Recomposition
Exploratory Innovation
Exploitative Innovation
Internal Control Quality