摘要
董事会非正式层级是董事会成员通过长期的交流互动,基于能力、声誉和影响力差异,对彼此进行评价并给予适当的尊重,进而自发形成的有地位高低之分的层次结构。在缺乏正式制度安排的董事会内部,非正式层级能够为董事会成员提供清晰的交流秩序,减少决策冲突,提升董事会治理水平。基于此,本文以2007—2020年我国A股上市公司为样本,研究了董事会非正式层级对公司创新的影响及其作用机制。实证结果发现,董事会非正式层级正向促进了公司创新:在高新技术行业,该正向影响更为显著;在作用机制方面,董事会非正式层级能够通过强化董事会监督职能与资源提供职能,促进公司创新。本文为公司优化董事会结构以提高创新水平提供了实践启示。
Board informal hierarchy is formed spontaneously based on the board members’evaluation of individuals’ability,reputation,and influence through longterm communication and interaction.In the absence of formal institutional arrangements,the informal hierarchy facilitates a clear communication order within the board,reduces conflicts in the decision-making process,and improves board governance.Using a sample of A-share listed companies in China from 2007 to 2020,this paper examines the effect of board informal hierarchy on corporate innovation.We find that board informal hierarchy significantly improves corporate innovation,and this positive relationship is more pronounced in high-tech industries.The informal hierarchy of a board improves corporate innovation through strengthening the role of board in supervision and in providing resources.This paper provides helpful insights on improving corporate innovation through the development of better board structure.
作者
章永奎
严欣瑾
Yongkui Zhang;Xinjin Yan(Center for Accounting Studies and Accounting Department of Xiamen University,Xiamen,Fujian,China 361005;State Grid Hangzhou Power Supply Company,Hangzhou,Zhejiang,China 315300)
出处
《当代会计评论》
2023年第2期142-161,共20页
Contemporary Accounting Review
基金
福建省社会科学基金一般项目“学者型独立董事、公司创新与‘内卷化抑制’”(FJ2021B158)
中央高校基本科研业务费专项资金资助项目“学者型独立董事、技术创新与企业绩效”(2072021063)的阶段性研究成果
关键词
非正式层级
公司创新
监督
资源提供
informal hierarchy
corporate innovation
supervision
resource provision
作者简介
章永奎,副教授,E-mail:zhykxm@xmu.edu.cn;通讯作者:严欣瑾,硕士研究生,E-mail:642893549@qq.com
