摘要
以2012—2019年我国沪深A股上市公司为样本,运用社会网络分析方法,实证检验高管关系网络和战略型机构投资者对企业创新绩效的影响。研究发现:高管关系网络的位置与企业创新绩效具有倒U形关系;战略型机构投资者可以提升企业创新绩效;战略型机构投资者在高管关系网络位置与企业创新绩效之间起到正向调节作用,进一步研究发现,在非国有企业中高管网络位置对于企业创新绩效的影响更显著。高管关系网络过大可能产生代理问题,战略型机构投资者可以有效缓解这一问题。
By taking Shanghai and Shenzhen A-share listed companies from 2012 to 2019 as samples and adopting social network analysis method, this study empirically tests the influence of senior executive relationship network and strategic institutional investors on enterprise innovative performance. The results show that there exists an inverted U-shaped relationship between the position of senior executive relationship network and enterprise innovative performance;strategic institutional investors can promote enterprise innovative performance;and strategic institutional investors play a positive moderating role between the position of senior executive relationship network and enterprise innovative performance. The further research shows that in non-state-owned enterprises, the position of senior executive network has a more significant influence on enterprise innovative performance. A too large senior executive relationship network may lead to the agency problem, which can be effectively alleviated by strategic institutional investors.
作者
王璇
李进中
WANG Xuan;LI Jinzhong(School of Accounting,Shandong University of Finance and Economics,Jinan 250014,China)
出处
《山东财经大学学报》
2021年第4期99-110,共12页
Journal of Shandong University of Finance and Economics
基金
国家社会科学基金项目“新形势下大数据审计能力的结构、制度与提升路径研究”(20BJY033)。
关键词
高管关系网络
战略型机构投资者
企业创新绩效
社会网络分析
senior executive relationship network
strategic institutional investor
enterprise innovative performance
social network analysis
