The influence of shared leadership on employee voice behavior，the mediating effect of personal sense of power and the moderating effect of error risk‐taking and role self‐efficacy are tested. The research results enrich the relevant theories of employee voice behavior and shared leadership and gives corresponding practical guidance. Taking 194 pairs of employees and their superior leaders in several enterprises in Shanghai as the sample，the results show as follows. Shared leadership has significant positive predictive effect on promotive voice and prohibitive voice. Personal sense of power has mediating effect between shared leadership and employee voice behavior. Error risk‐taking has a moderating effect on personal sense of power and promotive voice behavior，and role self‐efficacy has a moderating effect on personal sense of power and prohibitive voice behavior. Based on the research results，some management suggestions are proposed.