摘要
社会网络理论的兴起和发展为企业财务领域的研究提供了新视角。本文基于社会网络理论,利用2010-2020年A股上市公司的数据,实证检验了分析师跟踪网络对企业突破性创新的影响。结果表明,分析师跟踪网络能够发挥信息传递效应和监督治理效应,从而促进企业突破性创新。进一步研究发现,工作经验丰富和学历高的分析师跟踪网络对企业突破性创新的促进作用更强;在吸收能力强、高新技术行业、经济政策不确定性高以及市场化程度低的情况下,分析师跟踪网络促进企业突破性创新的效应更加明显。
The rise and development of social network theory provides a new perspective for the research in the field of corporate finance.Based on the social network theory,this paper empirically tests the impact of analyst tracking network on enterprise breakthrough innovation by using the data of A-share listed companies from 2010 to 2020.The results show that analyst tracking network can exert the information transmission effect and supervision and governance effect,thus promoting enterprise breakthrough innovation.Further research shows that the analyst tracking network with rich working experience and high education has played a stronger role in promoting enterprise breakthrough innovation.Under the conditions of strong absorptive capacity,high-tech industries,high economic policy uncertainty and low degree of marketization,the effect of analyst tracking network on promoting enterprise breakthrough innovation is more obvious.
作者
白俊
李云
陈师雯
BAI Jun;LI Yun;CHEN Shi-wen(School of Economics and Management,Research Center of Governance and Managment Innovation,Shihezi University,Shihezi 832000,China;Schoolof Management,Xiamen University,Xiamen 361005,China)
出处
《现代财经（天津财经大学学报）》
CSSCI
北大核心
2022年第12期93-109,共17页
Modern Finance and Economics：Journal of Tianjin University of Finance and Economics
基金
国家自然科学基金项目(72162030,71762026)。
关键词
分析师跟踪网络
企业突破性创新
信息传递效应
监督治理效应
analyst tracking network
enterprise breakthrough innovation
information transmission effect
supervision and governance effect
