基于WSR方法论的林业上市公司组织韧性影响因素研究

The Influencing Factors of Organizational Resilience of Listed Forestry Companies Based on WSR Methodology

基于物理-事理-人理(WSR)方法论,采用2010—2022年38家林业上市公司的非平衡面板数据,通过定量指标分析其组织韧性的影响因素。结果表明:物理、事理和人理层面的因素都会对林业企业组织韧性产生影响。其中物理层面的创新能力、事理层面的机构投资者以及人理层面的管理者能力和企业社会责任均有助于企业绩效的长期增长,并降低企业的财务波动,即对林业企业组织韧性有提升作用;而物理层面的冗余资源和事理层面的股权制衡度对组织韧性的增长性维度都有负向影响,即不利于林业企业绩效的长期增长,但均有助于降低林业企业的财务波动,增强企业稳定性。因此,林业企业应综合考虑物理、事理和人理各方面的因素,促进各方面因素协调统一发展,不断提高企业的韧性能力。

⑴Background——Organizational resilience is the ability of enterprises to cope with normal crises.Improving the organizational resilience of forestry enterprises is an effective way to resist external shocks,which has important practical significance for scientifically guiding forestry enterprises to achieve ecological protection and economic development under the goal of green environmental development.Existing literature has discussed the factors influencing organizational resilience from the internal and external aspects of an organization.However,it can be found that these analyses are still scattered,and a systematic analysis framework of influencing factors has not yet been formed.⑵Methods——Based on Wuli-Shili-Renli system methodology(WSR),the research hypothesis was proposed.The A-share listed forestry companies from 2010 to 2022 were selected as the research objects,and the unbalanced panel data of 38 enterprises with a total of 336 observed values were obtained.The basic information,financial data,control variables and other data of the sample enterprises came from the Wind financial terminal database,CSMAR database and corporate annual reports.A fixed effect model was established to analyze the influencing factors of organizational resilience through quantitative indexes.⑶Results——Redundant resources and innovation ability at the Wuli level pass the significance test.Among them,the regression coefficient between redundant resources and the growth dimension of organizational resilience is-1.887,and that between redundant resources and the volatility dimension of organizational resilience is-0.034,indicating that redundant resources will inhibit the sustainable growth of enterprise performance,at the same time reduce the financial volatility of enterprises.Innovation ability can help improve organizational resilience.Equity balance and institutional investors at the Shili level also pass the significance test.Among them,the regression coefficient between equity balance and the growth dimension of organizational resilience is-1.028,and that between equity balance and the volatility dimension of organizational resilience is-0.036,indicating that equity balance can improve the stability of enterprises,but it is not conducive to the long-term growth of enterprise performance.While the institutional investors can effectively promote the sustainable growth of enterprise performance and improve the robustness of enterprise finance.Both management ability and CSR at the Renli level pass the significance test at the given significance level,that is,they have a positive impact on the growth dimension and a negative impact on the volatility dimension of organizational resilience.⑷Conclusions and Discussions——Based on the above analysis,the following suggestions are put forward:First,from the perspective of Wuli level,on one hand,forestry enterprises must pay attention to the negative impact of redundant resources on enterprises while holding redundant resources necessary for their survival and development.On the other hand,forestry enterprises need to increase R&D investment to enhance innovation ability.Second,from the perspective of Shili level,forestry enterprises should adjust their internal strategies and adjust the proportion of equity reasonably.At the same time,forestry enterprises should improve the relevant provisions to attract institutional investors to increase their investment in the company and guide them to fully participate in corporate governance.Third,from the perspective of Renli level,forestry enterprises need to constantly train high-level managers to maximize their potential.