经理权力、战略行为与企业经济效应关系研究

Power Manager,Strategic Research on Relationship between Behavior and Economic Effects

经理权力是管理层对企业的影响依赖于权力的表现,是经理实现自身意愿的能力。基于因子分析构建了经理权力的综合度量指标,对经理权力与企业并购投资、R&D投资间的相关性及与企业经济效应间的关系进行了实证研究。结果表明,经理制衡权与企业并购正相关,与R&D投资负相关;声望权与并购和R&D投资负相关;结构权与并购和R&D投资的相关性不显著;所有权与企业并购的相关性不显著,但与R&D投资正相关;综合权力与并购投资的相关性不显著,与R&D投资负相关;经理权力的大小对企业并购投资的经济效应影响并无显著差异,但对R&D投资的经济效应影响差异较为明显。

Using factor analysis, summarized refines the comprehensive measure of managerial authority, and acquisition of managerial authority and enterprise investments, R＆D between correlations and studies the relationships between economic effects. Study results showed that the relationship between Managerg power of checks and balances and positively related to mergers and acquisitions, was negatively correlated with R＆D investment; Prestige and R＆D investments and mergers and acquisitions are on the right has a negative correlation; Structural correlation between right and R＆D investments and mergers and acquisitions were not significant; No significant relation- ship between ownership and mergers and acquisitions, was positively correlated with R＆D investment relationship; Integrated power and no significant correlation between mergers and acquisitions, was negatively correlated with R＆D investment; Manager power the size of the effect on the economic effect of a merger of enterprises and no sig- nificant difference, but for R＆D after the investment economic effect more obvious.