作　　者： (郑丽）; (陈志军）;

机构地区： 山东大学管理学院,山东济南250100

出　　处： 《山西财经大学学报》 2017年第9期89-103,共15页

摘　　要： 以2012—2015年A股上市公司为样本,分析绩效下滑公司提高竞争优势摆脱经营困境的决策机制。研究发现:相比发展前景较好的公司,绩效下滑公司更迫切提高技术创新能力,且绩效下滑程度越大,公司对提高创新能力的愿望越强;绩效下滑公司可以依赖企业集团的扶持提高创新绩效,也可以在外部市场利用慈善捐赠释放信号,传递公司拥有较强的竞争优势的信息。进一步分析发现,上市公司依附企业集团、慈善捐赠两种决策手段对创新的影响存在替代效应。 Taking listed firms in China from the year 2012 to 2015 as a sample, the paper focuses on how to reinvigorate the per- formance-declining enterprises with enhanced competitive advantages. We find that, performance-declining enterprises are more eager to improve their technical innovation ability, and there is a positive correlation between their poorer performance and the willingness to innovate. Those performance-declining enterprises could enhance the innovative ability relying on supports of conglomerate. Besides, these enterprises can establish a powerful image through their plans for philanthropy. Further study shows that, the conglomerate and their philanthropy has a substitution effect on the urgency to innovate.

关 键 词： 路径依赖 企业集团 信号理论 慈善捐赠 技术创新