资产专用性、产品竞争优势与企业绩效:技术创新的调节作用

Asset Specificity,Product Competitive Advantage and Enterprise Performance:The Moderating Role of the Enterprise Technical Innovation

基于交易成本理论、资源基础理论与竞争理论，本文利用我国中小企业板制造业上市公司2010-2014年问的269家企业5年的平衡面板数据，实证研究了资产专用性对企业绩效的影响及其机制。结果表明：（1）资产专用性对企业绩效具有显著的促进作用；（2）在资产专用性对企业绩效的正向影响中，产品竞争优势具有完全的中介效应；（3）企业技术创新对资产专用性与企业绩效的关系具有显著的正向调节效应；（4）在资产专用性与产品竞争优势的正向关系中，企业技术创新具有显著的正向调节作用，而且这种调节作用通过产品竞争优势的完全中介效应时企业绩效产生影响。本研究从理论上丰富了资产专用性对企业绩效的作用机制的理解，在实践上对企业发挥资产专用性的作用具有指导意义。

Based on transaction cost theory, resource-based view and competition theory, this paper analyses the effect of the asset specificity on the enterprise performance by using the balanced panel data of 269 manufacturing enterprises listed on China＇ s SMEs＇ board from 2010 to 2014. The empirical results shows that： （ 1 ） the asset specificity has a posi- tive effect on the enterprise performance; （2）the product competitive advantage has a complete mediating effect and the enterprise technical innovation has a noticeable moderating effect on the relationship between the asset specificity and the enterprise performance; （3）the enterprise technical innovation has also played a noticeable moderating role on the rela- tionship between the asset specificity and the product competitive advantage; （4） this moderating role has a positive effect on the enterprise performance through the mediating effect of the product competitive advantage. This study enriches the understanding of the mechanism of the effect of the asset specificity on the enterprise performance in theory, and has practical implications for enterprises to play the role of asset specificity.