人力资本属性、高管离职与企业竞争优势

Human Capital Attribute, Executive Turnover and Firm Competitive Advantage

已有研究将高管离职仅仅视作组织内脱离行为探讨离职的原因和经济后果,从人力资本在组织与组织之间的流动视角出发,文章重新审视人力资本限制的离职原因和经济后果。基于资源基础理论,文章在细分高管人力资本属性区别的基础上,探讨了通用性和专用性人力资本属性限制对高管离职流动的影响,以及这两种属性的高管离职对企业竞争优势影响的区别。以2011-2013创业板上市公司在IPO之后出现的离职潮时期为研究样本,研究发现,专用性人力资本属性较高的高管离职更受限制,而通用性人力资本属性较高的高管则不会;进一步的研究发现,尽管创业板高管离职普遍会损害企业竞争优势,但通用性人力资本属性较高的高管离职对竞争优势的损害程度较低,而专用性人力资本属性的高管损害较高。通过区分高管人力资本属性,文章从人力资本流动性角度为高管离职补充了资源基础理论的证据。

Primary studies regard the top manager turnover as the disengagement behavior only within organization, given antecedent and consequences for it. This study regard the top manager turnover as the flowing of human focus its human capital restrictions from inter organization, reexamining the antecedent for top manager turnover and its consequences.Based on resource based view, we discusses the impact of general and specific human capital attributes on top manager turnovers, and the difference impact two types human capital attributes top manager demission has on firm competitive advantages, on the basis of specified executives human capital attributes Taking the post-IPO demission trend from 2011 to 2013 in growth enterprises market as the research sample, our research found that exhibitive with higher attributes of specific human capital were more limited in demission, while higher attributes of general human capital were not. Further research shows although the executives departure generally damage firm competitive advantage, the extent from general human capital executives departure were lower, specific human capital executives departure were higher. By distinguishing the human capital attributes of top manager, our research supplements the evidence of resource-based views for top manager departure’ from the perspective of human capital liquidity.