董事会断裂带与公司双元创新

Board Faultlines and Corporate Ambidextrous Innovation

探索式创新注重公司未来利益,而开发式创新更关注公司当前利益,有效平衡两类创新的双元创新策略对公司的持续发展至关重要。能否有效实施双元创新可能受到决策核心董事会断裂带特征的影响。以2013—2020年我国制造业上市公司为样本,考察董事会任务相关断裂带和生理相关断裂带两种不同类型断裂带对公司双元创新的影响。结果发现:董事会任务相关断裂带有助于促进公司双元创新,而生理相关断裂带会抑制双元创新;任务相关断裂带平衡了研发的费用化支出和资本化支出,因而促进公司的双元创新,生理相关断裂带打破研发的费用化支出和资本化支出的平衡,因而不利于公司的双元创新。进一步研究发现,董事长CEO两职兼任、独立董事强化了任务相关断裂带对公司双元创新的促进作用,但是对董事会生理相关断裂带不利于公司双元创新的状况没有起到抑制作用。本研究拓展了断裂带和双元创新的理论研究,有利于为公司董事会管理和创新实践提供启示。

Exploratory innovation focuses on the future interests of the firm,while exploitative innovation pays more attention to the current interests.The ambidextrous innovation strategy of effectively balancing the two types of innovation is very important to the sustainable and healthy development of the firm.The effective implementation of ambidextrous innovation may be affected by the faultlines structure of the board of directors.By using the sample of manufacturing industry listed companies from 2013 to 2020,this paper investigates the influence of the task-related faultiness and bio-demographic faultiness of board on corporate ambidextrous innovation.The results show that:the task-related faultlines is conducive to the ambidextrous innovation,the bio-demographic faultlines of the board is not conducive to ambidextrous innovation;the task-related faultlines balances the expensed expenditure and capitalized expenditure of R&D investment,thus promoting the ambidextrous innovation,bio-demographic faultlines breaks the balance between the expensed expenditure and capitalized expenditure of R&D investment,which is unfavorable to the ambidextrous innovation.Further research show that,the duality of chairman and CEO and independent directors strengthened the role of task-related faultlines in promoting ambidextrous innovation,but did not inhibit the situation that the bio-demographic faultlines in inhibiting ambidextrous innovation.The research expands the theoretical research of faultlines and ambidextrous innovation,and is conducive to provide enlightenment for the board of directors management and innovation practice.