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首席执行官贪和企业技术创新:分析师覆盖作为中国A股市场外部治理机制
Yuanbo Hu1, Ruiyuan Cong2, Ran Teng3
1School of Digital Business, Zhejiang Dongfang Polytechnic, Wenzhou, China.
PloS one
|November 25, 2025
概括
首席执行官的贪驱动着企业的技术创新,特别是剥削性项目. 分析师的报道放大了这种影响,尽管影响因公司和行业而异. 这项研究提供了对领导力和创新策略的见解.
科学领域:
- 商业和经济学 商业和经济学
- 公司治理 公司治理
- 技术创新技术创新技术创新
背景情况:
- 在第四次工业革命中,技术创新对于稳固的竞争力至关重要.
- 首席执行官的个性特征被认为是企业技术创新的重要决定因素.
- 现有的文献强调了领导力在塑造公司战略和结果方面的作用.
研究的目的:
- 调查CEO贪对企业技术创新的影响.
- 检查分析师覆盖在CEO贪创新关系中的调节作用.
- 探索CEO贪对剥削与探索性创新的差异性影响.
主要方法:
- 利用了2011年至2023年中国A股上市公司的样本.
- 作为理论框架,采用了上层阶层理论和行为代理理论.
- 分析了CEO贪,分析师覆盖率和企业技术创新之间的关系,区分了剥削和探索性创新.
主要成果:
- 发现CEO的贪大大促进了企业的技术创新.
- 分析师覆盖率被确定为一个重要的调节因素,加强了CEO贪对创新的积极影响.
- 首席执行官的贪主要促进了利用性创新 (较短周期),并没有对探索性创新 (较长周期) 产生重大影响.
结论:
- 首席执行官的贪可以成为技术创新的催化剂,特别是在短期的开发项目中.
- 首席执行官贪对创新的影响取决于分析师覆盖范围,公司特征和行业背景等因素.
- 这些发现有助于理解CEO特征,公司治理和创新策略之间的复杂相互作用.
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