CEO任期、CEO权力集中度与中国制造企业自主创新能力——基于中国制造业上市公司2006—2017年的经验证据
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F425

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国家自然基金(71572177)


CEO Tenure, CEO Power Concentration and China’s Manufacturing Independent Innovation Capability:Based on Empirical Evidence of Listed Companies in China’s Manufacturing Industry from 2006 to 2017
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    摘要:

    本文以中国制造业上市公司2006—2017年数据为研究对象,以CEO权力集中度为调节变量探讨了CEO任期与中国制造企业自主创新能力之间的关系,研究发现:①长期意义上CEO 任期越长,越有利于自主创新能力提升;②CEO 权力集中度越高,越有利于自主创新能力提升;③CEO 权力集中度与CEO 任期有“伴随效应”,能够扩张CEO 任期对自主创新能力的正向效应,正所谓“用人不疑,疑人不用”;④在当前,国有制造企业更应注重CEO 任期对自主创新能力的积极作用,应考虑增加国企CEO任期;而民营制造企业要注重公司治理结构中CEO权力集中度。结论具有稳健性。

    Abstract:

    It takes the data of Chinese manufacturing listed companies from 2006 to 2017 as the research sample, and takes the degree of power concentration of CEO as the moderator to explore the relationship between CEO tenure and independent innovation capability in China. The results show that: (1)In the long run, the longer the CEO tenure, the more beneficial to the improvement of independent innovation capability, (2) the higher the power concentration of CEO, the more beneficial to the improvement of independent innovation capability; (3) CEO power concentration and CEO tenure have "accompanying effect", which can expand the positive effect of CEO tenure on the independent innovation capability, which is called “employers do not suspect, the suspect not”;(4)At present, state-owned manufacturing enterprises should pay more attention to the positive role of CEO tenure on independent innovation capability, and the CEO tenure of state-owned enterprises should be considered to increase, while private manufacturing enterprises should pay attention to the concentration of CEO power in corporate governance structure. The conclusions are robust.

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周鹏冉,刘海兵. CEO任期、CEO权力集中度与中国制造企业自主创新能力——基于中国制造业上市公司2006—2017年的经验证据[J].技术经济,2020,39(7):112-119.

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  • 收稿日期:2020-02-18
  • 最后修改日期:2020-08-01
  • 录用日期:2020-04-08
  • 在线发布日期: 2020-08-25
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