摘要
高管的特殊经历会影响个人性格和行为方式,对其管理和决策具有重要影响。具有部队经历的高管会促进企业创新效率的提升吗?本文以2014-2017年为样本期间,选取全部A股上市公司作为研究对象,讨论高管部队经历对企业创新效率的影响。研究发现:第一,董事长、CEO的部队经历均显著提升了企业的创新效率;第二,具有部队经历的高管在面临激烈市场竞争的公司中任职,对企业创新效率的提升作用更加显著;第三,若CEO权力较大且无部队经历,则会制约具有部队经历的董事长对企业创新效率的促进作用。进一步研究发现:拥有部队经历高管的公司,其研发投入资本化比例显著高于其他公司,与提升企业创新效率的假设相一致。在使用倾向得分匹配和更换企业创新效率的计算方法后,结果依然稳健。本文的研究结论表明,高管部队经历对企业创新效率的提升具有显著效果,企业应充分发挥高管部队经历的积极作用。本文为企业创新效率的研究提供了新的思路和证据。
Do top managers with military experience have a positive effect on the improvement of corporate innovation efficiency?This article uses all the A-share listed companies from 2014 to 2017 to examine this question.The research finds that:First,the military experience of the chairman and the CEO significantly improves the corporate innovation efficiency;Second,the top managers with military experience in the companies facing the fierce market competition have a more pronounced effect on improving the innovation efficiency;Third,if CEOs without military experience have greater power,they will inhibit the promotion of innovation efficiency.Further research finds that companies with military executives have significantly higher capitalization ratios of R&D investment than other companies,which is consistent with the hypothesis of improving corporate innovation efficiency.After using the propensity score matching method and replacing the calculation method of innovation efficiency,the conclusion remains unchanged.The research conclusions show that enterprises should pay attention to the promotion effect of top managers’ military experience on innovation efficiency.At the same time,this article also provides new ideas and evidence for the study of innovation efficiency.
作者
赵西卜
杨丹
ZHAO Xi-bo;YANG Dan(School of Business,Renmin University of China,Beijing 100872,China)
出处
《数理统计与管理》
CSSCI
北大核心
2022年第5期916-926,共11页
Journal of Applied Statistics and Management
基金
国家社科基金面上项目(18BGL090)
中国人民大学科学研究基金(中央高校基本科研业务费专项资金资助)项目(20XNH092)。
关键词
公司高管
部队经历
技术创新
创新效率
top managers
military experience
technological innovation
innovation efficiency
