摘要 实践经验证明,采用引入国有股权的混合所有制改革战略的民营企业并不一定都能获得高的企业绩效,制约民营企业混合所有制改革战略发挥作用的因素有哪些,目前学术界并没有明确的结论。本研究基于高阶梯队理论,提出了民营企业引入国有股权的混合所有制改革战略的效果将受到高管团队特征影响这一观点,并构建了高管团队教育异质性和高管团队政治关联特征情景下国有股权比例与企业绩效关系的二阶交互模型,研究结果显示:虽然高管团队高的政治关联特征能够显著正向调节国有股权比例与企业绩效的关系,但这一效果会被高管团队高的教育异质性和高的政治关联特征所引起的团队内部的群际冲突效应所抑制。根据研究结果提出实施混合所有制改革战略的民营企业实现高企业绩效的两个策略:企业高管团队的政治特征与引入国有股权的混合所有制改革战略相匹配;适当调整高管团队成员的结构特征,以缓和团队内部的群际冲突。 Practical experience has proved that not all private enterprises adopting the mixed ownership reform strategy of introducing state-owned equity can achieve high corporate performance.At present,there is no clear conclusion in the academic circle about the factors that restrict the mixed ownership reform strategy of private enterprises.based on the theory of high ladder team,this paper puts forward the view that the effect of the mixed ownership reform strategy introduced by private enterprises into state-owned equity will be affected by the senior management team characteristics,and constructs the second-order interaction model of the relationship between state-owned equity ratio and enterprise performance under the scenario of TMT education heterogeneity and TMT political association.The results show that,although high TMT political association can positively regulate the relationship between state-owned equity ratio and corporate performance,this effect will be inhibited by the inter-group conflict effect caused by high TMT educational heterogeneity and high TMT political association.According to the research results,two strategies are proposed for private enterprises implementing mixed ownership reform strategy to achieve high corporate performance:the political characteristics of corporate senior management team should be matched with the mixed ownership reform strategy of introducing state-owned equity,and the structural characteristics of senior management team members should be properly adjusted to mitigate inter-group conflicts within the team.
机构地区 澳门科技大学商学院 广州科技贸易职业学院商贸学院
出处 《企业经济》 北大核心 2021年第4期36-44,共9页
基金 国家自然科学基金面上项目“企业危机管理能力的动态形成机理及影响因素:一项追踪研究”(项目编号:71972098)。
关键词 群际冲突 国有股权 企业绩效 高阶梯队 民营企业 intergroup conflict state-owned equity corporate performance high ladder team private enterprise
分类号 F272 [经济管理—企业管理]
