内部控制与创业企业创新效率--基于高管权力门槛效应分析

Internal Control and Innovation Efficiency of Start-ups:Threshold Effect Analysis Based on Executive Power

创新是创业企业实力的重要体现。内部控制作为企业的制度安排,对创业企业的创新效率至关重要。基于创业板2014-2018年的面板数据,实证研究内部控制对创业企业创新效率的影响,并以高管权力为门槛,检验创业企业内部控制与创新效率之间的关系。结果表明:内部控制对创业企业创新效率有促进作用;高管权力存在双重门槛效应,在中等水平的高管权力区间内,内部控制对创新效率的正向影响最强;在检验高管权力四个子维度的情景效应中,发现高管组织权力、所有权权力存在单门槛效应。基于上述研究,从内部控制和高管权力两个角度提出建议。

Innovation is a key element for start-ups.As the institutional arrangement of enterprises,internal control is crucial to the innovation efficiency of start-ups.Based on the panel data of GEM from 2014 to 2018,this paper empirically analyzes the impact of internal control on the innovation efficiency of start-ups,and employs the executive power as the threshold to test relationship between internal control and innovation efficiency of start-ups.The results show that internal control has a positive effect on the innovation efficiency of start-ups,and that executive power has double threshold effect.Only in the middle level of executive power range can internal control play the strongest positive role in innovation efficiency.After further testing situational effect of the four dimensions of executive power,it is found that executive organizational power and ownership power show a single-threshold effect.Based on the above research,suggestions are put forward from the perspectives of internal control and executive power.