组织冗余、产品市场竞争与企业绩效——基于制造业上市面板数据的实证研究

Organizational Slack,Product Market Competition and Performance——An Empirical Analysis Based on the Panel Data of the Chinese Listed Company in Manufacturing Industry

当前国内外对组织冗余与企业绩效关系的研究并不一致。本文结合代理理论和组织理论,以产品市场竞争为情境变量,研究了组织冗余与企业绩效的关系。通过采用2001～2010年制造业上市公司面板数据对理论假设进行检验,实证结果表明:在转型经济的中国,组织冗余与企业绩效的关系更多地支持了代理理论提出的负面影响的观点;但是随着产品市场竞争加剧,企业代理效应受到更多约束、组织理论所提出的冗余正面效应更加凸显,组织冗余与企业绩效两者之间的负向关系被弱化。

The research conclusion of the relationship between organizational slack and performance is still inconsistent. Combine with the theory of organization and agency theory, this paper discusses the relationship of organizational slack and performance, including the moderating effect of product market competition. Using the panel data of listed company in manufacturing industry from 2001 to 2010 ,we test the hypothesis and find that the organizational slack has negative effect on performance in China during transition period. But with increasing of product market competition, the agency effect is restrained tightly and positive effect of organizational slack based of organization theory highlights. The negative relationship between organizational slack and performance is weakened.