管理层权力配置下上市公司创新决策动因研究

选取2013—2016年我国民营上市公司经营数据作为研究样本，基于管理层权力配置视角探索企业创新决策动因及其规律性，结果表明：①基于研发与营销的职能区别，随着管理层权力配置程度增加，技术创新和市场创新两类创新行为的决策倾向呈现差异化演变，具体表现为管理层权力与技术创新行为正相关，与市场创新行为负相关；②公司成长状态对管理层权力与技术创新行为的关系具有显著调节作用，具体表现为：公司经营风险水平较高时，管理层权力对技术创新行为的促进作用会被弱化，公司盈利能力较强时，管理层权力对技术创新行为的促进作用会被强化；③公司成长状态对管理层权力与市场创新行为关系的调节作用不显著，即管理层权力对创新行为的影响机理不会因公司经营风险水平和盈利水平的差异而发生改变。

Research on Innovation Decision Motivators of Listed Companies based on Management Power Allocation

This paper selects data of private listed companies in China from 2013 to 2016 as the research sample,based on perspective of management power allocation,this paper explored innovation decision motivators and rules,the research results showed that:①based on the difference in function between R&D and marketing,innovative behavior decision tendency of technology innovation and market innovation showed differentiated evolution with the increase of management power allocation degree,specifically expressed as the management power is positively related to technical innovation and negatively related to market innovation; ②corporate growth status has significant adjust influence on the relationship between the management power and technological innovation which concrete expression to:when the corporate operation risk is higher,the promote of management power to technological innovation will be weakened,when the company profitability is stronger,the promote of management power to technological innovation will be intensified; ③corporate growth status has little adjust influence on the relationship between management power and market innovation,the influence mechanism of management power to innovation behavior won’t change by the difference of corporate operation risk and profitability.