摘要
本文基于高层梯队理论,构建了高管团队智力资本、战略柔性与企业绩效间关系的理论模型,并以珠三角大中型制造企业为样本,利用结构方程模型进行实证检验,结果表明:高管团队智力资本对先动柔性和响应柔性均有正向影响;响应柔性对财务和非财务绩效均有显著正向影响,而先动柔性只对非财务绩效有显著影响;先动柔性对响应柔性有正向影响。此外,进一步的分析表明,高管团队智力资本对财务和非财务绩效均无直接影响,即战略柔性在高管团队智力资本与企业绩效的关系中起完全中介作用。
In this paper, based on Upper Echelons theory, we propose a theoretical model about the relationship among intellectual capital of TMT, strategic flexibility and firm performance. And with the sample of large and medium-- sized manufacturing enterprises in Pearl River Delta, the structural equation model （SEM） is used to testify the theoretical model. It shows that intellectual capital of TMT has a positive effect on both proactive and reactive flexibility; and reactive flexibility has a positive effect on both financial and non--financial performance, but proactive flexibility has a positive effect simply on non--financial performance rather than financial performance; proactive flexibility has a possible effect on reactive flexibility. More over, further analysis shows that intel- lectual capital of TMT has no direct effect on both financial and non--financial performance, that is, strategic flexibility plays a mediating role in the relationship of intellectual capital of TMT and corporate performance.
出处
《现代财经（天津财经大学学报）》
CSSCI
北大核心
2013年第4期81-89,共9页
Modern Finance and Economics：Journal of Tianjin University of Finance and Economics
基金
国家自然科学基金重点项目(70832003
70772028)
广东省哲学社会科学"十二五"规划基金项目(GD11XGL22
2012YB05)
关键词
高管团队
智力资本
战略柔性
企业绩效
高层梯队理论
top management team
intellectual capital.
strategic flexibility
corporate perform- ance
Upper Echelons theory
