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论文编号：	9970
作者编号：	2120162750
上传时间：	2018/6/6 13:41:19
中文题目：	业绩期望差距、董事会权力配置与企业战略变革
英文题目：	Performance-Aspiration Gap,Board Power Configuration and Enterprise Strategic Change
指导老师：	薛有志
中文关键字：	业绩期望差距；战略变革；董事会权力配置
英文关键字：	Performance-Aspiration Gap；Strategic Change；Board Power Allocation
中文摘要：	伴随全球经济的深刻调整，多年来保持经济高速增长的中国进入了经济新常态并着力于经济结构改革。在经济转型的背景下，宏观层面的经济、政治和社会文化环境发生着深刻改变的同时，微观层面的产业环境和企业内部环境也发生着综合改变。因此，企业应及时转变战略思维，进行合理的战略变革以促进战略与环境的有效匹配。在此背景下，对企业战略变革决策的驱动因素进行深入探讨的重要性与日俱增。企业行为理论的业绩反馈视角为战略变革的驱动因素研究提供了一个新颖的切入点，其核心观点在于，以实际经营业绩低于目标期望业绩这一现状作为问题搜寻活动的触发点，企业决策者会以强烈的动机和较高的风险容忍度展开对企业现存制度、流程、产品结构、战略等方面的问题诊断活动，然后集中资源解决问题，最终反映在企业战略的调整上。与此同时，处于企业组织架构顶端的董事会及高管团队承担着战略变革的义务，董事会内部权力配置以及董事会与高管团队之间的权力配置状况是影响战略互动模式的关键因素。因此，本文结合企业行为理论和委托代理理论，以2011—2015年我国沪深两市A股制造业上市公司为研究对象，试图研究两个关键问题：第一，业绩期望差距对战略变革是否有影响？第二，董事会权力配置（董事会权力、董事会非正式权力层级、董事长与总经理的权力距离）是否在业绩期望差距与企业战略变革决策之间发挥情境影响？通过研究，本文得出以下结论：（1）业绩期望差距正向影响战略变革；（2）董事会权力削弱了业绩期望差距对战略变革的影响；（3）董事会非正式权力层级增强了业绩期望差距对战略变革的影响；（4）董事长与总经理之间的权力距离削弱了业绩期望差距对战略变革的影响。
英文摘要：	With the profound adjustment of the global economy，China，which has maintained high economic growth for many years，has entered a new normal economy and has focused on economic structural reforms.In the context of economic restructuring，while the macro-level economic，political，and socio cultural environments have undergone profound changes，the micro-level industrial environment and the company's internal environment have also undergone comprehensive changes. Enterprises should change their strategic thinking in time and carry out reasonable strategic changes to promote an effective match between strategy and environment. In this context，the importance of in-depth discussions on the drivers of strategic change in corporate decisions is growing. Focusing on the perspective of performance feedback，the theory of corporate behavior provides a novel point for the study of the drivers of strategic change. Its core view is that when the actual operating performance is lower than the target expected performance，the people will actively carry out problem diagnosis activities on the existing systems，processes，product structures，and strategies of the company with strong motivation and higher risk tolerance. Then they will concentrate resources on solving problems. At the same time，the board of directors and senior management team undertake the strategic transformation. This article combines the theory of corporate behavior，the theory of high ladders and the principal-agent theory，and uses the manufacturing companies listed on the A-shares in Shanghai and Shenzhen in 2011-2015 as research samples to explore two core issues：First，does the performance-aspiration gap have an impact on corporate strategy change? Second，does the allocation of power of the board of directors (the power of the board of directors，the level of informal power of the board of directors，and the power distance between the chairman and the general manager) exert a situational influence between the performance-aspiration gap and the corporate strategic change? The conclusion is as follows：(1)The performance-aspiration gap has a positive impact on corporate strategy change；(2)Board power weakens the positive impact of the performance aspiration gap on corporate strategy change；(3) The informal power hierarchy of the board of directors enhances the positive impact of the performance-aspiration gap on corporate strategy changes；(4)The power distance weakens the positive impact of the performance-aspiration gap on corporate strategy changes.
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