發(fā)布時(shí)間：2018-03-16 02:00

  本文選題：國(guó)有股權(quán)　切入點(diǎn)：企業(yè)家參政　出處：《管理評(píng)論》2017年04期 　論文類型：期刊論文

【摘要】：與以往研究將民營(yíng)企業(yè)家參政作為重要的政治關(guān)聯(lián)方式不同,本研究將民營(yíng)企業(yè)中含有的國(guó)有股權(quán)視為一種重要的政治關(guān)聯(lián)機(jī)制。本文以中國(guó)民營(yíng)控股上市公司為樣本,對(duì)國(guó)有股權(quán)在民營(yíng)企業(yè)中的政治關(guān)聯(lián)效應(yīng)及作用機(jī)制進(jìn)行了理論分析與實(shí)證檢驗(yàn)。研究發(fā)現(xiàn),民營(yíng)企業(yè)中含有的國(guó)有股權(quán)能夠像企業(yè)家參政一樣,提高公司績(jī)效,其作用機(jī)制在于,國(guó)有股權(quán)依靠其與政府的天然聯(lián)系,為民營(yíng)企業(yè)起到制度層面的聲譽(yù)擔(dān)保作用,能夠幫助民營(yíng)企業(yè)發(fā)展獲取較多的經(jīng)濟(jì)資源與發(fā)展空間。同時(shí),對(duì)于含有國(guó)有股權(quán)的民營(yíng)企業(yè),企業(yè)家參政對(duì)公司經(jīng)濟(jì)資源獲取,以及績(jī)效提升的影響程度會(huì)顯著下降。這表明國(guó)有股權(quán)所帶來(lái)的政治關(guān)聯(lián)效應(yīng)是建立在制度層面上,其作用應(yīng)該超過(guò)表面層次上民營(yíng)企業(yè)家參政的政治關(guān)聯(lián)效應(yīng)。本文的研究為進(jìn)一步全面理解在中國(guó)經(jīng)濟(jì)轉(zhuǎn)型時(shí)期混合所有制結(jié)構(gòu)對(duì)民營(yíng)企業(yè)的影響提供了一個(gè)新視角,并開(kāi)拓了公司政治關(guān)聯(lián)的研究領(lǐng)域。
[Abstract]:Different from previous studies, private entrepreneurs' participation in politics is regarded as an important way of political connection. In this study, the state-owned equity contained in private enterprises is regarded as an important political association mechanism. This paper makes a theoretical analysis and empirical test on the political relevance effect and mechanism of state-owned equity in private enterprises. It is found that the state-owned equity contained in private enterprises can improve corporate performance just as entrepreneurs participate in politics. The mechanism lies in the fact that the state-owned equity shares depend on their natural relationship with the government and play an institutional role in guaranteeing the reputation of private enterprises, which can help private enterprises to develop and obtain more economic resources and development space. For private enterprises with state-owned equity, the influence of entrepreneur participation in politics on the acquisition of economic resources and the improvement of performance will be significantly reduced, which indicates that the political correlation effect brought by state-owned equity is based on the institutional level. This paper provides a new perspective for further understanding the influence of mixed ownership structure on private enterprises in the period of economic transformation in China. And has opened up the company political connection research domain.
【作者單位】： 重慶大學(xué)經(jīng)濟(jì)與工商管理學(xué)院;西南財(cái)經(jīng)大學(xué)金融學(xué)院;
【基金】：國(guó)家社會(huì)科學(xué)基金項(xiàng)目(14BGL047) 國(guó)家杰出青年基金項(xiàng)目(70525005)
【分類號(hào)】：F832.51;D0
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本文編號(hào)：1617802