资源效率对企业绩效的影响:基于环境动态性调节分析

The Impacts of Resource Efficiency on Corporate Performance Based on the Moderator of Environmental Dynamism

关于资源效率和企业绩效的关系,现有理论分析和实证结果均存在明显分歧。本文分析了存货、生产、营销和人力资源效率对企业绩效的影响,并讨论了环境动态性的调节效应。以我国制造业542家上市公司为研究对象,利用2003-2010年的数据进行实证检验。结果表明:资源效率和企业绩效之间并非简单的线性相关,两者之间存在倒置U型关系。环境动态性对资源效率和企业绩效之间的关系有显著调节作用,动态性弱化了资源效率对企业绩效的正向影响,强化了资源效率对企业绩效的负向影响。

Concerning the relationship between resource efficiency and corporate performance, extant research results have obvious diver- gence. This paper analyzes the impacts of inventory, production, marketing and human resource efficiency on corporate performance within a single framework, and also discusses the moderating effect of environmental dynamism. Then we select data from 542 manufac- turing listed firms for the period 2003-2010 to conduct an empirical test. Results show that the relationship between resource efficiency and corporate performance is in an inverted U shape, not simply in a linear shape. Environmental dynamism has significant moderating effect on the nonlinear relationship. Dynamism weakens the positive impacts of resource efficiency on performance and strengthens the negative impacts of resource efficiency on performance.