CAJ | 학술논문

检验CEO权力强度如何影响企业战略风格,以及这种影响在不同的制度环境中是否存在差异。研究发现：CEO权力越大,战略风格越趋向于风险型;反之,CEO权力越小,战略风格越趋向于稳健型。制度环境负向调节CEO权力强度与企业战略风格之间的关系。即在其他条件相同的情况下,相对于地区制度环境约束性较强的公司,CEO权力强度对企业战略风格的影响在地区制度环境约束性较弱的公司中更为显著。进一步检验发现,企业战略风格越趋于风险型,企业绩效波动性越大;而企业战略风格在CEO权力与企业绩效波动性之间发挥中介作用。
검험CEO권력강도여하영향기업전략풍격,이급저충영향재불동적제도배경중시부존재차이。연구발현：CEO권력월대,전략풍격월추향우풍험형;반지,CEO권력월소,전략풍격월추향우은건형。제도배경부향조절CEO권력강도여기업전략풍격지간적관계。즉재기타조건상동적정황하,상대우지구제도배경약속성교강적공사,CEO권력강도대기업전략풍격적영향재지구제도배경약속성교약적공사중경위현저。진일보검험발현,기업전략풍격월추우풍험형,기업적효파동성월대;이기업전략풍격재CEO권력여기업적효파동성지간발휘중개작용。
This study examines how CEO power affects the enterprise strategic style, and whether the impacts are different under different institutional environments. It is found that when the CEO power is greater, the enterprise strategic style become more risk; when the CEO power is smaller, the enterprise strategic style become more stable; when the impact is more significant, institutional envi- ronment constraints are weaker. There is a significantly positive correlation between the aggressive style of enterprise strategy and corporate performance variability. And the enterprise strategy style plays an intermediary role between CEO power and corporate performance variability.