行业竞争期望落差对企业创新绩效的影响--基于中国制造业上市公司的经验分析

Influence of the gap of industry competition expectation on enterprise innovation performance:Based on the empirical analysis of listed companies in China's manufacturing industry

当企业业绩低于行业竞争期望时,企业为改善行业竞争劣势会进行战略变革,但目前行业竞争期望落差对企业创新绩效的影响却鲜有研究。基于企业行为理论,以中国深沪A股制造业上市公司2012-2019年的数据为样本,实证分析行业竞争期望落差对企业创新绩效的影响,并进一步探究管理者过度自信、组织冗余和行业竞争程度对上述关系的调节作用。研究表明:行业竞争期望落差与企业创新绩效有显著的正相关关系,即当企业实际业绩低于行业竞争期望时,为改变业绩困境,企业会冒险加大创新投入;管理者过度自信、组织冗余和行业竞争程度都会正向强化行业竞争期望落差与企业创新绩效的关系。

When the enterprise performance is lower than the expectation of industry competition,enterprises will carry out strategic reform to improve the competitive disadvantage of the industry.However,there is little research on the impact of the gap of industry competition expectation on the innovation performance of enterprises.Based on the theory of enterprise behavior,this paper empirically analyzes the impact of the gap of industry competition expectation on enterprise innovation performance by taking the data of China's A-share manufacturing listed companies from 2012 to 2019 as samples,and further explores the regulating effects of managers'overconfidence,organizational redundancy and industry competition degree on the above relations.The research shows that there is a significant positive correlation between the expectation gap of industry competition and the innovation performance of enterprises.In other words,when the actual performance of enterprises is lower than the expectation of industry competition,enterprises will take risks to increase innovation investment in order to change the performance dilemma.Managers'overconfidence,organizational redundancy and the level of industry competition will positively strengthen the relationship between the expected gap of industry competition and enterprise innovation performance.