企业家特质、金融发展与企业绩效
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摘要
利用376家上市企业中的企业家信息和财务数据,实证分析了企业家特质对企业绩效的影响,以及企业所在地区的金融发展规模和金融发展效率对企业绩效的影响。研究发现:(1)企业家的性别、学历、参政议政等特质对企业绩效有着显著的正向影响。(2)金融发展作为宏观层面的变量,对企业绩效起到了明显的推动作用。根据研究结论,对企业绩效的提升针对性地提出了一些政策建议。
Using the entrepreneur information and financial data of 376 listed companies, the paper analyzes the impact of entrepreneurial traits on Enterprise Performance, and the impact of financial development scale and financial development efficiency on Enterprise Performance. The study found that:(1) entrepreneurs' gender, education, political participation and other characteristics have a significant positive impact on Enterprise Performance.(2) As a macro-level variable, financial development has played a significant role in promoting Enterprise Performance Finally, based on the research conclusions, some policy recommendations are proposed in response to the improvement of Enterprise Performance.
Using the entrepreneur information and financial data of 376 listed companies, the paper analyzes the impact of entrepreneurial traits on Enterprise Performance, and the impact of financial development scale and financial development efficiency on Enterprise Performance. The study found that:(1) entrepreneurs' gender, education, political participation and other characteristics have a significant positive impact on Enterprise Performance.(2) As a macro-level variable, financial development has played a significant role in promoting Enterprise Performance Finally, based on the research conclusions, some policy recommendations are proposed in response to the improvement of Enterprise Performance.
引文
[1]张鹏,施美程.金融市场化,所有制差异与融资渠道——基于世界银行中国企业投资环境调查的实证分析[J].经济学家,2016(11):54-62.
[2]周勇,龚海东.创新型企业家人力资本特征与企业绩效的实证研究[J].科技管理研究,2014,34(2):96-102.
[3]何晓斌,蒋君洁,杨治,蔡国良.新创企业家应做“外交家”吗?——新创企业家的社交活动对企业绩效的影响[J].管理世界,2013(6):128-137,152.
[4]谢雪燕,常倩倩.企业家精神与高新技术企业绩效——基于新三板信息技术企业[J].财会月刊,2017(30):51-58.
[5]王明杰.企业家道德资本对绩效管理作用机制分析[J].商业经济与管理,2017(11):40-48.
[6]余汉,蒲勇健,宋增基.企业家隐性政治资本、制度环境与企业绩效——来自中国民营上市公司的经验证据[J].经济经纬,2017,34(2):105-110.
[7]杨鹏鹏,许译文,李星树.民营企业家社会资本、动态能力影响企业绩效的实证研究[J].山西财经大学学报,2015,37(9):101-112.
[8]Sarah Drakopoulou Dodd,Paul Jones,Gerard McElwee,Mohamed Haddoud.The Price of Everything,and the Value of Nothing?Stories of Contribution in Entrepreneurship Research[J].Journal of Small Business and Enterprise Development,2016,23(4) :918-938.
[9]Philippe Zgheib.Multi-level Framework of Push-pull Entrepreneurship:Comparing American and Lebanese Women [J].International Journal of Entrepreneurial Behavior & Research,2018,24(3):506-519.
[10]张凡.金融发展、企业融资行为与融资约束缓解——基于微观结构理论的实证分析[J].财经问题研究,2015(7):122-128.
[11]万道侠,胡彬.产业集聚、金融发展与企业的“创新惰性”[J].产业经济研究,2018(1):28-38.
[12]翟淑萍,顾群.金融发展、融资约束缓解与高新技术企业研发投资效率研究[J].经济经纬,2013(2):138-143.
[13]张小蒂,王永齐.企业家显现与产业集聚:金融市场的联结效应[J].中国工业经济,2010(5):59-67.
[14]孙晓华,王昀,徐冉.金融发展、融资约束缓解与企业研发投资[J].科研管理,2015,36(5):47-54.
[15]李斌,江伟.金融发展、融资约束与企业成长[J].南开经济研究,2006(3):68-78.
[16]贾俊生,伦晓波,林树.金融发展、微观企业创新产出与经济增长——基于上市公司专利视角的实证分析[J].金融研究,2017(1):99-113.
[17]Festus Ebo Turkson,Agyapomaa Gyeke-Dako,Emmanuel Bentum Amissah.Foreign Direct Investment Spillovers and the Ghanaian Local Financial Environment [J].Modern Economy,2015(6):1078-1089.
[18]张顺葆.经济发展阶段、金融活动与企业成长[J].山西财经大学学报,2014,36(1):43-53.
[2]周勇,龚海东.创新型企业家人力资本特征与企业绩效的实证研究[J].科技管理研究,2014,34(2):96-102.
[3]何晓斌,蒋君洁,杨治,蔡国良.新创企业家应做“外交家”吗?——新创企业家的社交活动对企业绩效的影响[J].管理世界,2013(6):128-137,152.
[4]谢雪燕,常倩倩.企业家精神与高新技术企业绩效——基于新三板信息技术企业[J].财会月刊,2017(30):51-58.
[5]王明杰.企业家道德资本对绩效管理作用机制分析[J].商业经济与管理,2017(11):40-48.
[6]余汉,蒲勇健,宋增基.企业家隐性政治资本、制度环境与企业绩效——来自中国民营上市公司的经验证据[J].经济经纬,2017,34(2):105-110.
[7]杨鹏鹏,许译文,李星树.民营企业家社会资本、动态能力影响企业绩效的实证研究[J].山西财经大学学报,2015,37(9):101-112.
[8]Sarah Drakopoulou Dodd,Paul Jones,Gerard McElwee,Mohamed Haddoud.The Price of Everything,and the Value of Nothing?Stories of Contribution in Entrepreneurship Research[J].Journal of Small Business and Enterprise Development,2016,23(4) :918-938.
[9]Philippe Zgheib.Multi-level Framework of Push-pull Entrepreneurship:Comparing American and Lebanese Women [J].International Journal of Entrepreneurial Behavior & Research,2018,24(3):506-519.
[10]张凡.金融发展、企业融资行为与融资约束缓解——基于微观结构理论的实证分析[J].财经问题研究,2015(7):122-128.
[11]万道侠,胡彬.产业集聚、金融发展与企业的“创新惰性”[J].产业经济研究,2018(1):28-38.
[12]翟淑萍,顾群.金融发展、融资约束缓解与高新技术企业研发投资效率研究[J].经济经纬,2013(2):138-143.
[13]张小蒂,王永齐.企业家显现与产业集聚:金融市场的联结效应[J].中国工业经济,2010(5):59-67.
[14]孙晓华,王昀,徐冉.金融发展、融资约束缓解与企业研发投资[J].科研管理,2015,36(5):47-54.
[15]李斌,江伟.金融发展、融资约束与企业成长[J].南开经济研究,2006(3):68-78.
[16]贾俊生,伦晓波,林树.金融发展、微观企业创新产出与经济增长——基于上市公司专利视角的实证分析[J].金融研究,2017(1):99-113.
[17]Festus Ebo Turkson,Agyapomaa Gyeke-Dako,Emmanuel Bentum Amissah.Foreign Direct Investment Spillovers and the Ghanaian Local Financial Environment [J].Modern Economy,2015(6):1078-1089.
[18]张顺葆.经济发展阶段、金融活动与企业成长[J].山西财经大学学报,2014,36(1):43-53.