CAJ | 학술논문

以中国上市企业2007—2013年的数据为基础，实证分析了 CEO 权力对创新绩效的影响、产权性质对创新绩效———CEO 权力敏感性的影响。实证结果表明，产权性质会显著影响创新绩效与 CEO 权力之间关系的敏感性，非国有企业 CEO 综合权力对创新绩效具有显著正向影响，持有本企业股权、具有较高学历水平、任期较长以及兼任董事长的 CEO 能带来更好的创新绩效。国有企业 CEO 综合权力对创新绩效的正向影响较弱，但较小的董事会规模以及 CEO 持股有利于提高创新绩效。
이중국상시기업2007—2013년적수거위기출，실증분석료 CEO 권력대창신적효적영향、산권성질대창신적효———CEO 권력민감성적영향。실증결과표명，산권성질회현저영향창신적효여 CEO 권력지간관계적민감성，비국유기업 CEO 종합권력대창신적효구유현저정향영향，지유본기업고권、구유교고학력수평、임기교장이급겸임동사장적 CEO 능대래경호적창신적효。국유기업 CEO 종합권력대창신적효적정향영향교약，단교소적동사회규모이급 CEO 지고유리우제고창신적효。
Based on the sample of listed firms in China during the period from 2007 to 2013,this paper investigates the impact of CEO power on innovation performance and the impact of nature of property right on innovation performance- CEO power sensitivity.The empirical results show that the nature of property right has significantly positive impact on innovation performance-CEO power sensitivity.The integrated CEO power has significantly positive impacts on innovation performance in non-state-owned firms;CEO ownership,CEO education,CEO tenure and CEO duality all have significantly positive influences on innovation performance in non-state-owned firms.There is weak positive relationship between integrated CEO power and innovation performance in state - owned firms;smaller board size and CEO ownership both can improve innovation performance in state -owned firms.