环境复杂性、董事长权力与公司绩效

Environmental Complexity,Chairman Power and Company Performance

以2007~2018年全部A股上市公司为研究样本,基于组织权力配置的视角,实证探究了董事长权力影响公司绩效的作用机理。结果表明,董事长权力的提升能够显著提高公司绩效。进一步从组织外部环境角度出发,考察了公司经营环境对二者关系的影响,发现公司经营环境的复杂性越高,董事长权力对公司绩效的促进作用越强。此外,与国有企业相比,非国有企业中董事长权力对公司绩效的促进作用更为显著。

Taking all A-share listed companies from 2007 to 2018 as a research sample,based on the perspective of the allocation of organizational power,this paper explores the mechanism of the chairman^power affecting company performance.The empirical results show that the promotion of chairman’s power can significantly improve company performance.From the perspective of the external environment of the organization,this paper examines the impact of the company^operating environment on the relationship between them and finds that when the complexity of the operating environment is higher,the stronger impact of the chairman^power in promoting company performance.In addition,compared with state-owned enterprises,the chairman^s power plays a more significant role in promoting enterprise performance in non-state-owned enterprises.