基于政治关联角度的高管变更对民营企业进入高壁垒行业的影响研究

发布时间：2017-12-31 13:07

本文关键词：基于政治关联角度的高管变更对民营企业进入高壁垒行业的影响研究　出处：《华南理工大学》2015年硕士论文　论文类型：学位论文

【摘要】：企业高管的政治关联是一个全球范围内的常见现象。在中国这个讲究“关系”的环境中关注政治关联更具有实践意义。中国尚处于经济转型期,在很多领域存在法治法规空白,政府在履行自身职能的过程中缺少全面完善的规则,具有一定的不确定性和不稳定性。民营企业由于所有制特点在与国有企业和外资企业竞争中处于不利的地位。民营高管参政议政的意愿和行为不断增多,公司也开始注重具有政治资源的人担任企业高管,希望以此为联系与政府建立良好的政企关系,从而获得稀缺资源和发展空间。具有政治关联的高管可能帮助企业突破行业壁垒,进入高壁垒行业,从而提升企业绩效。同时在不同地区制度环境下,民营企业政治关联对民营企业进入高壁垒行业的影响存在差异。本文针对这一问题,选取了2008-2011年间发生高管变更的民营上市公司为研究样本,首先从两个维度对其政治关联进行刻画,其一是将政治关联进行分类,分为直接政治关联、间接政治关联;其二是在度量时分别采取两分类变量和赋值的方法,继而分析高管变更对公司政治关联的影响。其次,分析了政治关联对民营企业进入高壁垒行业的影响,对于进入高壁垒行业的衡量采取了两种方法:是否进入和进入该类行业的深度,前者是两分类变量后者是营业收入的比值。进而深一步探究在不同地区制度环境下,民营企业政治关联对企业进入高壁垒行业的影响是否存在差异。最后,本文检验了进入高壁垒行业对民营企业经营绩效的影响,判断进入该类行业是否显著提高了公司业绩。并且进一步验证,进入高壁垒行业是否是政治关联对民营企业绩效影响的中介变量。本文的实证结果表明,高管变更从各个方面提高了民营企业的政治关联强度,高管变更起到了增强政治关联的作用;高管变更公司的直接政治关联、间接政治关联和总政治关联对其进入高壁垒行业并高壁垒行业中的经营程度都起到了促进作用;而地区制度差异在政治关联对进入高壁垒行业中起调节作用,在制度环境较差的地区,高管变更后政治关联对民企企业进入高壁垒行业的影响更显著。高管变更后,民营企业进入高壁垒行业后显著改善了民营企业的绩效。进入高壁垒行业是政治关联对民营企业绩效影响的中介变量。
[Abstract]:Political association of corporate executives is a common phenomenon in the global range. In this particular Chinese "relationship" environment concern political association of more practical significance. China is still in the period of economic transformation, the existence of the rule of law and regulations blank in many areas, the lack of comprehensive rules in the process of fulfilling their function of government, has a certain the uncertainty and instability. Private enterprises due to the ownership characteristics in a disadvantageous position in competition with state-owned enterprises and foreign enterprises. Private executives political willingness and behavior to continue to increase, companies began to pay attention to people with political resources as a corporate executive, hoping to establish good relations between government and enterprises to contact with the government, and access to scarce resources and development space. Political association executives may help companies break through trade barriers, to enter the high barriers to trade, so as to enhance the enterprises Industry performance. At the same time in different parts of the institutional environment, influence the political connection of private enterprises for private enterprises to enter the high barriers to trade differences. Aiming at this problem, the turnover of top managers from 2008-2011 private listed companies as the research sample, from the first to the political association for the two dimensions of characterization, the first is to political connections are classified into direct political connection, indirect political connection; second is to take the method of two classification variables and values respectively in measurement, then analysis the influence to the company executives to change the political association. Second, analyzes the influence of political association of private enterprises to enter the high barriers to trade, to measure into high barriers to trade take the two kinds of methods: whether to enter into the industry and the depth of the former is two, which is the ratio of operating income classification variables. And further research in different Regional institutional environment, the political connection of private enterprises of enterprises to enter the high barriers to trade the difference. Finally, this paper tests into the industry with high barriers to private enterprise operating performance, to determine whether to enter such industries to significantly improve the performance of the company. And further validation into high barriers to trade is the mediating effect of Politics Association of private enterprise performance. The empirical results show that the change of executives from the aspects of improving the political strength of association of private enterprises, executives change to strengthen the role of political association; direct political association executives to change the company's indirect political connection and the general political association of management degree into the high barriers to trade barriers and high in the industry have played a role in promoting regional differences in the political system; association to enter the high barrier industry plays a moderating role in the system. The areas of poor environment, after the change of executives political association of private enterprises to enter the high barriers to trade is more significant. After the change of executives, private enterprises to enter the high barriers to trade after significantly improved the performance of private enterprises to enter the industry. High barriers is the mediating effect of political connection on the performance of private enterprises.

【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F275;D0

【参考文献】