CEO-TMT交界视角:CEO继任背景下CEO-TMT特征孤立性与企业创新强度的关系

CEO-TMT Interface Perspective:CEO-TMT Isolation and Enterprise Innovation Intensity under CEO Succession Background

在CEO继任背景下,新任CEO往往面对新职位以及新团队的挑战,其与现任高管成员的特征对比一定程度上能反映新任CEO与高管成员的磨合和融入过程,进而对新任CEO及高管团队(TMT)的创新战略选择产生影响。本研究基于CEO-TMT交界视角及团队断裂理论,构建出CEO-TMT特征孤立性这一新的反映CEO与TMT成员多维特征对比的关系人口学变量,并探索该变量在CEO继任背景下将如何对企业创新强度产生影响。通过对2012—2014年间657家A股上市公司的CEO继任样本进行分析,研究发现,CEO-TMT知识孤立性对企业创新强度具有促进作用;而CEO-TMT认同孤立性会弱化CEO-TMT知识孤立性对企业创新强度的正向作用;CEO-TMT地位孤立性将增强CEO-TMT知识孤立性对企业创新强度的正向作用;与此同时,竞争者继任背景下,CEO-TMT知识孤立性对企业创新强度具有最积极的影响。本文深化了对高管团队特征构成的理解,丰富了CEO继任背景下CEO与高管团队之间的交界对企业创新影响的研究。

Under the context of the CEO succession,new CEOs always face challenges from new positions and new top management teams.Their comparative attributes with existing top managers indicate the interaction and integration process between new CEOs and the existing top managers,thus impacting how new CEOs and top management teams(TMTs)will make decisions on corporate innovation strategies.Based on CEO-TMT interface perspective and team faultline theory,this research proposes that CEO-TMT isolation is a new concept about CEO-TMT relational demography in describing the multiple comparative attributes between a new CEO and the rest of the TMT.The research tests how CEO-TMT isolation will influence corporate innovation intensity.Through analyzing the data from 657 Chinese mainboard-listed companies over the period 2012-2014,this study finds that knowledge-based CEO-TMT isolation is positively associated with corporate innovation,while the identity-based CEO-TMT isolation mitigates this effect and the status-based CEO-TMT isolation strengthens this effect.In addition,this research suggests that knowledge-based CEO-TMT isolation will have the most positive effect on corporate innovation intensity under contender succession.Overall,this research deepens our understanding about the configuration of TMT composition and enriches the research about the impact of the CEO-TMT interface on corporate innovation.