企业愿景和使命应对金融危机真的有用吗——关于中国上市公司500强的实证研究

An Analysis of the Importance of Corporate Vision and Mission when Dealing with Financial Crisis——An Empirical Study on China's Top 500 Listed Companies

本文选取中国500强企业为样本,运用内容分析法统计分析企业愿景和使命陈述情况,实证方法探索了不同环境下企业愿景与使命对企业价值的影响,尤其考察了其应对金融危机的作用。研究发现相对稳定的环境下,企业愿景和使命的存在能够增加企业价值。我们同时提出了企业愿景和使命一致性的概念,并验证了其在不同环境下对企业价值的影响。研究发现在环境高度不确定性的情况下,企业愿景和使命的一致性可以降低企业价值的降低;而环境相对稳定的情况下,这种作用并不明显。本研究战略领导力和和新兴市场国家的企业行为做出了理论和实践贡献。

Employing the content analysis and taking Fortune 500 firms in China as our research sample we examine the influence of vision and mission on firm value under different circumstances, especially the financial crisis. We find that the existence of vision and mission increases the firm value under relative stable circumstance. Meanwhile, we introduce the concept of consistence of vision and mission, and investigate its effect on the firm value. We find that the consistence of vision and mission decreases firm value under the condition of higher level uncertainty, but the effect is not significant when the circumstance is relatively stable.