| 高管过度自信、企业异质性与企业创新绩效——基于战略性新兴产业上市公司的实证研究 |
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| 引用本文： | 王沛,余丽霞.高管过度自信、企业异质性与企业创新绩效——基于战略性新兴产业上市公司的实证研究[J].科学与管理,2019,39(2):1-11. |
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| 作者姓名： | 王沛 余丽霞 |
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| 作者单位： | 四川师范大学 商学院,四川 成都,610101;四川师范大学 商学院,四川 成都,610101 |
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| 基金项目： | 教育部人文社会科学研究项目;四川省科技厅重点项目;创新训练项目 |
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| 摘 要： | 当今世界新技术、新产业迅猛发展,世界主要国家纷纷调整发展战略,大力培育新兴产业,抢占未来经济科技竞争的制高点,为此,我国也提出了加快培育和发展战略性新兴产业的规划。在此背景下,本文基于2012—2016年中国战略性新兴产业A股上市公司,将高管过度自信和企业异质性同时纳入创新绩效的分析框架,实证研究我国战略性新兴产业中高管过度自信对创新绩效的影响及企业异质性所发挥的调节作用。结果表明:相比于非过度自信的高管,过度自信的高管能够有效促进企业创新绩效;另外,企业规模本身可以提升创新绩效,但是在高管过度自信对创新绩效影响中起调节作用时,发现小规模企业的促进作用反而更加显著。进一步研究表明,国有企业与民营企业中高管过度自信对创新绩效的影响效果存在差异性:民营企业高管过度自信会产生更多的创新绩效,而国有企业的促进效果较差。
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| 关 键 词： | 战略性新兴产业 高管过度自信 企业异质性 创新绩效 |
Executive Overconfidence,Firm Heterogeneity and Innovative Performance:Empirical Analysis Based on Strategic Emerging Industries Listed Companies |
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| Authors: | WANG Pei YU Lixia |
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| Institution: | (School of Business,Sichuan Normal University,Chengdu 610101,China) |
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| Abstract: | Nowadays, with the rapid development of new technologies and new industries in the world, major countries all around the world have readjusted their developmental strategies one after another, and vigorously fostered emerging industries to seize the commanding height of economic and technological competition in the future. To this end, China has also put forward plans to speed up the cultivation and development of strategic emerging industries. So this article is based on the 2012-2016 A-share listed companies in Chinese strategic emerging industries, incorporating overconfidence and corporate heterogeneity into the analytical framework of innovative performance, empirically studies the impact of executives' overconfidence on innovative performance and the regulatory effect of enterprises' heterogeneity in strategic emerging industries in China. The results showed that: compared to non-executive overconfidence, over-confident executives can effectively promote innovative performance;in addition, the size of the enterprise itself can enhance innovative performance, but the promotion of small-scale enterprises is even more significant when the size play a regulatory role. Further research showed that the effect of executive overconfidence on innovative performance is different between state-owned and private enterprise: private enterprise executives' overconfidence can produce more innovative performance while the promotional effect of state-owned enterprises is poor. |
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| Keywords: | strategic emerging industry executives' overconfidence corporate heterogeneity innovative performance |
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