高管职业生涯关注对企业创新产出的影响

随着VUAC时代的到来，创新的驱动作用愈发凸显。基于职业生涯关注理论、企业生命周期理论以及调节定向理论，以上海和深圳两市2007-2017年A股制造业上市企业为研究对象，深入探究高管职业生涯关注对企业创新产出的影响。研究表明，高管职业生涯关注显著促进企业创新产出；企业生命周期负向调节高管职业生涯关注与企业创新产出的关系，企业生命周期越长，高管职业生涯关注对企业创新产出的影响作用越小；制度环境正向调节高管职业生涯关注与企业创新产出的关系，企业所处的制度环境越好，高管职业生涯关注对企业创新产出的影响作用越显著；风险承担在高管职业生涯关注与企业创新产出间起着中介作用，当高管职业生涯关注高、风险承担强时，企业创新产出会相应增加。

The Impact of Executives'Career Concerns on Enterprise Innovation Output

With the advent of the VUAC era, the driving role of innovation has become increasingly prominent. Based on the career concern theory, enterprise life cycle theory and regulatory orientation theory, this paper takes the A-share manufacturing listed companies in Shanghai and Shenzhen from 2007 to 2017 as research object, explores deeply the relationship between executives′ career concerns and enterprise innovation output. The results show that: executives′ career concerns can significantly promote enterprise innovation output; the relationship between executives′ career concerns and enterprise innovation output is negatively regulated by the enterprise life cycle. When the enterprise life cycle is long, the impact of executives′ career attention on enterprise innovation output will be inhibited; the institutional environment positively regulates the relationship between executives′ career concern and enterprise innovation output. When the institutional environment is better, the impact of executives′ career concerns on enterprise innovation output is more significant; risk-taking plays a mediating role between executives′ career concerns and enterprise innovation output. When the executives′ career concerns are high and risk-taking is strong, the enterprise innovation output will increase.