CAJ | 학술논문

以我国上市企业为样本,分析了高管身份跨界、战略依存与非公企业价值之间的关系。结果发现,身份跨界广度对非公企业价值有显著的负向影响,而身份跨界深度的影响却是正向的;结构不确定在高管身份跨界与非公企业价值之间发挥了显著的正向调节作用;高管身份跨界对非公企业研发战略与企业价值之间无实质性贡献,身份跨界的政治战略与研发战略依存的结果是战略的“堆砌效应”;高管身份跨界会削弱广告战略与非公企业价值之间的作用关系,身份跨界的政治战略与广告战略依存会发生战略的“侵蚀效应”;高管身份跨界有助于强化研发战略和广告战略共同对非公企业价值的正向影响,身份跨界的政治战略、研发战略与广告战略三者依存会诱发战略的“协同效应”,促进非公企业价值提升。
이아국상시기업위양본,분석료고관신빈과계、전략의존여비공기업개치지간적관계。결과발현,신빈과계엄도대비공기업개치유현저적부향영향,이신빈과계심도적영향각시정향적;결구불학정재고관신빈과계여비공기업개치지간발휘료현저적정향조절작용;고관신빈과계대비공기업연발전략여기업개치지간무실질성공헌,신빈과계적정치전략여연발전략의존적결과시전략적“퇴체효응”;고관신빈과계회삭약엄고전략여비공기업개치지간적작용관계,신빈과계적정치전략여엄고전략의존회발생전략적“침식효응”;고관신빈과계유조우강화연발전략화엄고전략공동대비공기업개치적정향영향,신빈과계적정치전략、연발전략여엄고전략삼자의존회유발전략적“협동효응”,촉진비공기업개치제승。
In this study, the relationship among the cross-cutting identities of senior executives, strategic interdependence and the value of non-gOEs is investigated based on the sample of listed companies in China from political ecosystem perspective. The results show that, after controlling of other relevant factors, the scope of cross-cutting identities has significantly negative impact on the value of non-SOEs, while the level of cross-cutting identities is positive; structural uncertainty and competitive intensity play significantly positive, moderating roles between the cross-cutting identities and the value of non-gOEs; crossover strategy has no substantive contribution to the relationship between R＆D strategy and the value of non-gOEs, the inclusiveness of crossover strategy and R＆D strategy produce ＂packing effect＂; crossover strategy does harm to the relationship between advertisement strategy and the value of non-gOEs, the inclusiveness of crossover strategy and advertisement strategy produce ＂erosion effect＂; while crossover strategy is helpful to the relationship among R＆D strategy, advertisement strategy and the value of non-SOEs, the inclusiveness of crossover strategy, R＆D strategy, and advertisement strategy produce ＂synergy effect＂.