董事会地位断裂带对企业战略变革的影响研究

Research on the Impact of Board Status Faultline on Enterprise Strategic Change

基于断裂带理论、子组理论和地位层级理论,探究董事会地位断裂带对企业战略变革的影响。运用2008~2019年沪深A股上市公司数据,研究发现,董事会地位断裂带对企业战略变革有促进作用。进一步研究表明:董事能力增强子群体间地位认同,有助于董事会地位断裂带对企业战略变革的正向影响;政治嵌入强化子群体间地位差距,助力地位层级秩序的形成及企业内部资源整合,增强董事会地位断裂带对战略变革的正向影响;结合企业的外部治理机制进行考察,在市场化程度较低地区,董事会地位断裂带对战略变革的正向关系更明显;相比非国有企业,国有企业的董事会地位断裂带治理效应更显著;与中国南方相比较,北方的地位等级观念更强,董事会地位断裂带治理效应更明显。

Based on the faultline theory,subgroup theory and status hierarchy theory,we explored the impact of board status faultline on enterprise strategic change.Our study used the data of A-share listed companies in Shanghai and Shenzhen and found that the board status faultline has a positive effect on the company strategic change.Further research found that the board ability promotes the status identification among subgroups and enhances the positive influence of the board status faultline.Second,political embedding strengthens the status gap between subgroups,helps the formation of status hierarchy and the integration of internal resources,and enhances the positive impact of the board status faultline on strategic change.Third,combined with company’s external governance mechanism,compared with high marketization regions,the board status faultline has a more significant influence on the strategic change in low marketization regions.Fourth,compared with non-state-owned enterprises,the board status of state-owned enterprises has a more significant governance effect.Last,compared with the Southern China,the concept of status hierarchy in the Northern China is stronger,and the governance effect of board status faultline is more obvious.