高管教育烙印对企业绩效的影响

Impact of Top Management Educational Imprinting on Corporate Performance

表层静态的人口学特征难以刻画出深层心理特征的动态性,高层梯队理论仍处于静态观点。本研究基于烙印理论的动力学观点,构建并解析了高管教育烙印的衰退机制模型,以此刻画出高管团队教育异质性与企业绩效关系动态变化规律。基于中国A股上市公司13个行业147家企业1026个观测值的样本数据,通过线性回归分析显示:高管团队教育异质性与企业绩效的关系不显著;高管团队教育异质性差异负向调节高管团队初始教育异质性与企业绩效的关系;高管团队重叠任期负向调节高管团队初始教育异质性与企业绩效的关系。本研究提供了高管团队异质性-企业绩效混合关系的新解释,拓展了高层梯队理论的动力学研究空间。这也启示管理者要从整体性和动态性角度来把握高管团队教育异质性的作用,既关注高管个体内部不同教育背景之间的相互影响,同时随着团队互动增加,要将关注焦点由表层的教育异质性转移到深层的心理特征。

It is difficult to describe the dynamic nature of psychological characteristics based on the surface static demographic characteristics,and the Upper Echelon Theory is still in static.Based on the dynamic view of the Imprinting Theory,this study constructs and analyzes the decline mechanism model of top management education imprinting,so as to depict the dynamic change rules between the educational heterogeneity of top management team and corporate performance.Based on the sample data of 1,026 observations from 147 companies in 13 industries of China's A-share listed companies,the linear regression analysis shows that the relationship between the heterogeneity of top management team education and enterprise performance is not significant;the difference in the educational heterogeneity of the top management team negatively moderates the relationship between the initial educational heterogeneity of the top management team and corporate performance;the overlapping tenure of the top management team negatively moderates the relationship between the initial educational heterogeneity of the top management team and corporate performance.This study provides a new interpretation of the mixed conclusions in top management team heterogeneity and corporate performance,and expands the dynamic research space of senior echelon theory.The study provides implications for practitioners to understand the role of top management team educational heterogeneity from both holistic and dynamic perspectives.They should not only pay attention to the mutual influence between different educational backgrounds within individual executives,but also shift the focus from superficial educational heterogeneity to deep psychological characteristics with the increase of team interaction.