学术论文

      TMT异质性、期望落差与企业冒险变革行为

      TMT Heterogeneity, Aspiration Loss and Corporate Risk Change Behavior

      摘要:
      期望落差状况下企业倾向于"穷则思变"还是"墨守成规"?前期研究结论尚未达成一致,一个重要原因是前期研究忽视了TMT异质性的影响.为此,综合企业行为理论与高层梯队理论的相关观点,以2009—2015年中国制造业上市公司为研究样本,实证检验了TMT异质性、期望落差与企业冒险变革行为三者之间的关系.结果表明:当企业面临历史期望落差时,拥有较大的TMT年龄异质性与TMT职能背景异质性,降低了历史期望落差扩大时企业实施冒险变革行为的可能性;拥有较大的TMT性别异质性与TMT任期异质性,则提高了历史期望落差扩大时企业实施冒险变革行为的可能性;TMT教育水平异质性则对历史期望落差与企业冒险变革行为之间关系无显著影响.而当企业面临行业期望落差时,拥有较大的TMT性别异质性、TMT任期异质性以及TMT职能背景异质性,提高了行业期望落差扩大时企业实施冒险变革行为的可能性;TMT年龄异质性与TMT教育水平异质性则对行业期望落差与企业冒险变革行为之间关系无显著影响.
      Abstract:
      Companies tend to 'desire for change' or 'refusal to change' when they were faced with aspiration loss, the previous study did not come to an agreement. This paper argues that the important reason for the inconsisten-cy of the previous research results is that it ignores the influence of TMT heterogeneity. Based on this, integrated the view of the behavioral theory of the firm and upper echelon theory, using the 2009-2015 China A-shares of listed companies as the research sample, this paper examines the relationship among TMT heterogeneity, aspiration loss and corporate risk change behavior. The results show that: when the enterprise faces the historical aspiration loss, TMT age heterogeneity and TMT functional heterogeneity will weakened the possibility of corporate risk change behavior when the historical aspiration loss was expanded; TMT gender heterogeneity and TMT tenure heterogeneity will strengthened the possibility of corporate risk change behavior when the historical aspiration loss was expanded; TMT education level heterogeneity has no significant impact on the relationship between the his-torical aspiration loss and corporate risk change behavior. when the enterprise faces the industry aspiration loss, TMT gender heterogeneity, TMT tenure heterogeneity and TMT functional heterogeneity will strengthened the possi-bility of corporate risk change behavior when the industry aspiration loss was expanded;TMT age heterogeneity and TMT education level heterogeneity has no significant impact on the relationship between the industry aspira-tion loss and corporate risk change behavior.
      Author: CHEN Weihong ZHONG Xi SONG Tiebo
      作者单位: 华南理工大学工商管理学院,广州,510640
      刊 名: 科学学与科学技术管理 ISTICPKUCSSCI
      年,卷(期): 2018, 39(1)
      分类号: F273.1
      在线出版日期: 2018年3月26日
      基金项目: 国家社会科学基金重点项目,教育部重大攻关项目,华南理工大学中央高校基本科研业务费社会科学类项目