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论文编号：	13223
作者编号：	2120202830
上传时间：	2022/6/7 19:24:25
中文题目：	双重绩效反馈、管理层股权激励与企业创新行为
英文题目：	Multiple Performance Feedback, Management Equity Incentive and Corporate Innovation Behavior
指导老师：	程新生
中文关键字：	双重绩效反馈；管理层股权激励；探索式创新；利用式创新
英文关键字：	Multiple Performance Feedback; Management Equity Incentive; Exploratory Innovation; Exploitative Innovation
中文摘要：	随着经济全球化的发展以及新一轮产业革命的推进，创新水平已经成为体现国家综合国力和企业核心竞争力的关键指标，而我国当前正处于由“中国制造”转型“中国创造”的重要阶段，如何提升制造业企业的创新能力，引起了社会各界的普遍重视。企业行为理论基于认知-行为视角，提出绩效反馈对企业研发决策具有显著影响，同时考虑到企业往往处于各维度绩效反馈不一致的复杂决策情境中，因此，当绩效反馈结果不一致时，管理者该如何解读绩效反馈信息，企业又该如何进行创新决策，这个问题值得探究。但目前该领域的研究文献较少，且鲜有文献基于创新行为的异质性，从双元创新的视角探讨绩效反馈的作用机制，这可能也是现有研究未达成一致结论的原因之一。为弥补该领域的不足，本文以2010-2020年我国制造业上市企业的数据作为样本，根据历史和行业维度绩效反馈的方向差异，构建消极历史-积极行业绩效反馈和积极历史-消极行业绩效反馈两个组合情境，探究双重绩效反馈不一致对企业创新行为的作用机制，并将企业创新行为分为探索式创新和利用式创新，进一步探究绩效反馈的作用机理，同时引入了管理层股权激励这一公司治理机制，基于激励强度和激励有效期探究管理层心理特征变化对绩效反馈与企业创新行为之间关系的调节效应。 本文得出如下研究结论：（1）消极历史-积极行业绩效反馈促进企业创新行为，此时企业有动力也有能力加大研发投入力度；（2）积极历史-消极行业绩效反馈抑制企业创新行为，此时管理者会产生惰性心理并感受到威胁刚性，通常拒绝变革；（3）管理层股权激励提高了管理者的风险承担意愿，其中激励强度和有效期对消极历史-积极行业绩效反馈与创新行为的关系发挥正向调节作用，但对积极历史-消极行业绩效反馈与创新行为的关系发挥负向调节作用；（4）双重绩效反馈不一致主要作用于企业创新行为中的探索式创新层面，同时管理层股权激励也对绩效反馈不一致与探索式创新行为的关系发挥显著调节作用。 本文弥补了绩效反馈对企业双元创新的作用机制领域现有文献的不足，为绩效反馈不一致与企业创新行为的相关研究提供了新的证据，并从认知-行为视角丰富了企业创新的驱动因素，同时进一步解释了绩效反馈驱动创新行为的边界条件，对企业创新决策的优化和公司治理机制的完善具有一定参考意义。
英文摘要：	With the development of economic globalization and the advancement of a new round of industrial revolution, the level of innovation has become an important indicator to measure the country's comprehensive national strength and the core competitiveness of enterprises. Our country is currently in the transition from "Made in China" to "Created in China", and during the critical period, how to improve the innovation ability of manufacturing enterprises has received extensive attention from all walks of life. Based on the cognitive-behavioral perspective, the theory of corporate behavior proposes that performance feedback has a significant impact on corporate R&D decisions. At the same time, considering that companies are often in complex decision-making situations where performance feedback from various dimensions is inconsistent, when feedback results from multiple dimensions are inconsistent, management How to interpret performance feedback information, and how to make innovation decisions, this question is worth exploring. However, there are few research literatures in this field at present, and few literatures explore the mechanism of performance feedback from the perspective of ambidexterity innovation based on the heterogeneity of innovation behavior, which may be one of the reasons why the existing research does not reach a consistent conclusion. In order to make up for the deficiencies in this field, this paper uses the balanced panel data of China's listed manufacturing companies from 2010 to 2020 as a research sample, and constructs two combined situations that represent inconsistencies according to the direction differences of historical and industry performance feedback results: negative history-positive industry performance feedback and positive history-negative industry performance feedback, and explore the mechanism of multiple performance feedback inconsistency on corporate innovation behavior. Further, this paper divides corporate innovation behavior into two types: exploratory innovation and exploitative innovation, exploring the mechanism of performance feedback. In addition, this paper introduces the corporate governance mechanism of management equity incentive, and explores the moderating effect of changes in management psychological characteristics on the relationship between performance feedback and corporate innovation behavior based on incentive strength and incentive validity period. This paper draws the following research conclusions: (1) Negative history-positive industry performance feedback positively promotes corporate innovation behavior, and at this time, enterprises have the motivation and ability to increase R&D investment; (2) Positive history-negative industry performance feedback negatively inhibits corporate innovation behavior, and at this time, managers will have inertia and feel threatened, so they tend to maintain the current strategy and refuse to change; (3) Management equity incentive improves managers' willingness to take risks, among which incentive strength and validity period positively moderate the relationship between negative history-positive industry performance feedback and corporate innovation behavior, but negatively moderate the relationship between positive history-negative industry performance feedback and corporate innovation behavior; (4) Multiple performance feedback inconsistency mainly affects exploratory innovation behavior, and management equity incentive also plays a significant moderating role in the relationship between performance feedback inconsistency and exploratory innovation behavior. This paper makes up for the deficiencies of the existing literature in the field of the mechanism of performance feedback on enterprise ambidexterity innovation behavior, and provides new evidence for the research on performance feedback inconsistency and corporate innovation behavior, at the same time, this paper enriches the drive of corporation innovation from a cognitive-behavioral perspective. In addition, this paper explains the boundary conditions of performance feedback driving innovation behavior, which has certain reference significance for the optimization of enterprise innovation decision-making and the formulation of corporate governance mechanism.
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