企业消极反馈对战略变革的影响机制研究——基于动态能力和冗余资源的调节效应

Negative feedback and firm strategic change: The moderating effect of dynamic capabilities and slack resources

在动态复杂变化环境下,探讨不同消极反馈情形下企业战略变革选择受到何种因素影响值得进一步研究.本研究将消极反馈分为期望落差和组织衰败,并引入动态能力和冗余资源两个调节变量,探讨消极反馈影响企业战略变革的过程机制和边界条件.基于沪深A股制造业上市公司的研究表明,期望落差和组织衰败两种消极反馈形式对战略变革影响机制不同:期望落差与战略变革之间存在倒U型关系,而组织衰败对战略变革有显著的积极影响.其次,动态能力及冗余资源对期望落差与战略变革的倒U型关系有显著调节作用,动态能力对组织衰败与战略变革的正向关系有显著增强作用,冗余资源对组织衰败与战略变革的正向关系有显著削弱作用.研究结论对进一步分析企业消极反馈对战略变革的影响机理及边界条件有一定借鉴.

In a dynamic and complex changing environment, it is necessary to explore the factors that influence the choice of firm’s strategic change with different negative feedbacks. This study assumes that negative feedback is composed of performance-aspiration gap and organizational decline. Moreover, two moderating variables, dynamic capabilities and slack resources, are introduced to explore the mechanism and boundary conditions for the relationship between negative feedback and strategic change. Our empirical research of A-share manufacturing listed companies in Shanghai and Shenzhen stock markets finds that the two components of negative feedback have different effects on strategic change. First, there is an inverted U-shaped relationship between performance-aspiration gap and strategic change, while organizational decline has a significantly positive effect on strategic change. Second, dynamic capabilities and slack resources both have a significant moderating effect on the inverted U-shaped relationship between performance-aspiration gap and strategic change. Specifically, dynamic capabilities have an enhancing effect on the positive relationship between organizational decline and strategic change, while slack resources have a negative effect. The conclusions enrich the mechanism and boundary conditions of negative feedback on strategic change.