摘要
多元化战略与企业绩效的关系一直是战略管理领域的重要话题。基于2004～2006年中国制造业上市公司(共227家样本企业)的数据,研究高管团队人力资本(包括团队认知能力和凝聚力)和社会资本特征(包括市场和非市场社会资本)对多元化战略与企业长期绩效关系的调节效应。研究结果表明,在相关多元化战略中,高管团队凝聚力、市场社会资本发挥显著正向调节效应;在非相关多元化战略中,高管团队凝聚力、非市场社会资本发挥显著正向调节效应。本研究从社会资本视角拓展了企业多元化战略理论和以人力资本为核心的高阶理论。
The relationship between diversification strategy and firm performance is an important topic in strategic management. Based on a sample of 227 China listed companies in manufacturing section during 2004 - 2006, this article explores the mediating role of TMT characteristics on the relationship between diversification strategy and firm long term performance. The empirical results indicate that TMT cohesion and market social capital play the positive role in related diversification strategy, while, TMT cohesion and nonmarket social capital play the positive role in unrelated diversification strategy. Our empirical results may extend the upper echelon theory with the core of human capital of TMT and the theory of diversification strategy.
出处
《预测》
CSSCI
北大核心
2011年第1期10-17,共8页
Forecasting
基金
国家自然科学基金资助项目(70702011)
