摘要
如何选择合适的创新策略,是企业管理者面临的重大战略问题。以市场化水平和内部控制为调节变量,基于2014—2017年中证高新技术企业指数成分股数据,研究CEO权力强度与企业双元创新投入决策关系,结果发现:CEO权力强度促进企业创新投入;相较于利用式创新投入,结构权力对探索式创新投入的抑制效应更显著,所有制权力、专家权力和声誉权力对探索式创新投入的促进效应更显著;相较于探索式创新投入,市场化水平对CEO权力强度与利用式创新投入的调节效应更显著;相较于利用式创新投入,内部控制对CEO权力强度与探索式创新投入的调节效应更显著。结论拓展了CEO权力与双元创新研究领域,可为企业利用CEO权力调节双元创新投入水平提供实践指导。
Since the 18th National Congress of the Communist Party of China,the state has attached great importance to the innovation-driven strategy,and pointed out that innovation should be placed at the core of national development and that key technologies should be in our own hands.As the main body of technological innovation,enterprises'innovation achievements are largely affected by the types of innovation activities.Innovation activities are divided into exploratory innovation and utilization innovation according to their risk sharing and resource utilization.Exploratory innovation is related to the long-term development of enterprises,and utilization innovation is related to the short-term development of enterprises.As the executive team of the enterprise,how the CEO's power affects the choice of the enterprise's ambidextrous innovation strategy has important practical significance.In addition,most of the existing scholars'research focuses on the relationship between CEO power and corporate innovation investment,and often regard innovation as a homogeneous activity,and take CEO power as a single variable to analyze its impact on corporate innovation.The conclusions are often divergent.This paper distinguishes the dimension of CEO power and the heterogeneity of innovation,and introduces the moderating effect of two internal and external factors,the level of marketization and internal control to clarify the inconsistent relationship between CEO power and corporate innovation in previous articles.The reason has certain theoretical value.This paper takes the marketization level and internal control as moderating variables,and uses the CSI high-tech enterprise index constituent stocks from 2014 to 2017 as the data to establish a multiple linear regression model to study the relationship between the CEO's power intensity and the enterprise's ambidextrous innovation investment decision.The following conclusions are drawn.(1)CEO power intensity promotes enterprise innovation investment.(2)By subdividing the dimension of CEO power intensity,it is found that structural power has a more significant inhibitory effect on exploratory innovation investment than utilization innovation investment,and ownership power,expert power and reputation power have more significant promoting effect on exploratory innovation investment.(3)Compared with exploratory innovation investment,the moderating effect of marketization level on CEO power intensity and exploitative innovation investment is more significant;compared with exploitative innovation investment,internal control The moderating effect on CEO power intensity and exploratory innovation investment is more significant.This paper combines CEO power with ambidextrous innovation investment,takes CEO power intensity as the starting point,studies the effect of various dimensions of CEO power intensity on enterprise ambidextrous innovation investment,and considers the multi-dimensionality of CEO power and the heterogeneity of enterprise innovation to explore the reasons for the inconsistent relationship between CEO power and corporate innovation in previous studies.This paper adds the moderating role of marketization level and internal control,considers the factors that affect CEO strategy implementation from both internal and external aspects,deconstructs the role path of CEO power intensity affecting the enterprise's dual innovation investment,and verifies the marketization level and internal control adjustment effect.This study combines principal-agent theory and resource dependence theory with higher-order theory to explain the relationship between CEO power intensity and enterprise ambidextrous innovation investment,and strengthens the explanation of higher-order theory in the field of enterprise ambidextrous innovation.This paper has the following innovations.Theoretically,this paper provides important practical significance for the ambidextrous innovation management of Chinese enterprises.Enterprises can adjust the various dimensions of CEO power intensity to change the investment in ambidextrous innovation.Enterprises choose areas with high marketization level to increase the enterprises'exploitative innovation investment and they can improve the internal control system to increase the investment of exploratory innovation.Practically,this study combines principal-agent theory and resource dependence theory with higher-order theory to explain the relationship between CEO power intensity and enterprise ambidextrous innovation investment,and strengthens the explanation of higher-order theory in the field of enterprise ambidextrous innovation.This paper provides practical guidance for companies to use CEO power to adjust the level of ambidextrous innovation investment.
作者
邵颖红
丁琴
鲍晴
Shao Yinghong;Ding Qin;Bao Qing(School of Economics and Management, Tongji University, Shanghai 200092,China)
出处
《科技进步与对策》
CSSCI
北大核心
2022年第4期131-140,共10页
Science & Technology Progress and Policy
基金
国家自然科学基金项目(72072132,71672127)。
关键词
CEO权力强度
双元创新
创新投入
内部控制
市场化水平
CEO Power Intensity
Ambidexterity Innovation
Innovation Investment
Internal Control
Marketization Level
