差异化战略、高管团队人力资本和企业绩效——以农业龙头上市公司为例

Differentiation Strategy,TMT's Human Capital and Enterprise Performance——A Case Study of the Leading Agricultural listing Corporation

以农业龙头上市公司为研究样本,对差异化战略与企业绩效之间的关系进行研究。研究发现,高管团队人力资本的广度并没有显著影响差异化战略与企业绩效之间的关系,高管团队人力资本深度对差异化战略与企业绩效之间的关系具有反向调节作用。此外,企业规模和资产负债率是企业差异化战略和企业绩效之间关系的影响因素。企业要在规模经济的基础上实施差异化战略,在进行产品和技术创新时要控制适当的资产负债比率,要增加高管团队背景的丰富性和异质性。

This paper takes the agricultural leading listing Corporation as the research sample,studying the relationship between the differentiation strategy and enterprise performance,which is not obviously affected by the width of human capital of TMT. The depth of human capital of TMT negatively influences the relationship between differentiation strategy and enterprise performance. In addition,the scale of the enterprise and the asset-liability ratio also have an effect on their relationship. Enterprises should implement the differentiation strategy based on scale economies; enterprises should control the appropriate asset-liability ratio in the innovation of product and technology; enterprises should increase the richness and heterogeneity of TMT's background.