不确定环境下企业动态能力对财务绩效影响的理论模型与实证研究

发布时间：2019-03-20 20:04

【摘要】：动态能力是企业为适应环境的变化而构造、整合和重新配置企业内外部资源和能力的能力,可以划分为感知能力、把握能力和重构能力三个维度。企业通过资源的动态更新和释放、内外部关系和资源的协调与整合跟上环境的变化,从而促进企业绩效。但企业绩效包括非财务绩效和财务绩效,非财务绩效最终会转化为财务绩效,故非财务绩效极有可能在企业动态能力对财务绩效的作用过程中发挥中介作用。此外,企业存在市场环境中,不确定的外部环境必然会影响到企业的战略选择,有可能会调节动态能力对绩效的影响效果。本文围绕上述的两个可能性问题,基于前人的研究构建动态能力二阶三因子模型,以非财务绩效为中介变量构建中介作用模型,然后在中介作用模型的基础上引入环境不确定性作为调节变量构建动态能力、非财务绩效、财务绩效和环境不确定性关系的整体概念模型。在进行大样本抽样调查之前,本文先通过小样本的预问卷数据对各个潜变量进行项目分析、效度分析和信度分析,以提高数据的质量。然后,本研究通过问卷调查获得中国大陆195家大中型制造业企业的有效数据,利用结构方程模型(SEM)来检验动态能力与非财务绩效和财务绩效之间的影响关系以及非财务绩效的中介作用,还利用群组比较和阶层式回归的方法检验环境不确定性是否在动态能力对绩效影响过程中发挥调节作用。实证结果表明,动态能力对财务绩效和非财务绩效都有正向影响;非财务绩效对财务绩效有正向影响;非财务绩效在动态能力与财务绩效的关系中存在部分中介作用;环境不确定性不但显著正向调节动态能力与非财务绩效的关系,而且还显著负向调节动态能力与财务绩效的直接关系,但对非财务绩效与财务绩效的关系却缺乏调节作用。
[Abstract]:Dynamic ability is the ability of enterprises to construct, integrate and reconfigure internal and external resources and capabilities in order to adapt to the change of environment. It can be divided into three dimensions: perceptual ability, grasping ability and reconstructing ability. Through the dynamic update and release of resources, the coordination and integration of internal and external relations and resources to keep pace with the changes of the environment, enterprises can promote enterprise performance. However, non-financial performance includes non-financial performance and financial performance, and non-financial performance will eventually be transformed into financial performance. Therefore, non-financial performance is likely to play an intermediary role in the process of the dynamic ability of the enterprise to play an intermediary role in the process of financial performance. In addition, in the market environment, the uncertain external environment will inevitably affect the strategic choice of the enterprise, and may adjust the effect of the dynamic ability on the performance. Focusing on the above two possible problems, this paper constructs a second-order three-factor model of dynamic capability based on previous studies, and constructs an intermediary action model based on non-financial performance as an intermediary variable. On the basis of the mediation model, the environmental uncertainty is introduced as the regulating variable to construct the overall conceptual model of the relationship among dynamic capability, non-financial performance, financial performance and environmental uncertainty. In order to improve the quality of the data, the item analysis, validity analysis and reliability analysis of each latent variable are carried out through the small sample pre-questionnaire data before the large sample sampling survey is carried out. Then, a questionnaire survey was conducted to obtain valid data from 195 large and medium-sized manufacturing enterprises in mainland China. The structural equation model (SEM) is used to test the relationship between dynamic capability and non-financial performance and financial performance, as well as the intermediary effect of non-financial performance. Group comparison and hierarchical regression are also used to test whether environmental uncertainty plays a moderating role in the process of dynamic capability impact on performance. The empirical results show that dynamic performance has a positive impact on both financial performance and non-financial performance, non-financial performance has a positive impact on financial performance, non-financial performance has a partial intermediary role in the relationship between dynamic capability and financial performance, and non-financial performance has a positive impact on financial performance. Environmental uncertainty is not only significant positive regulation dynamic ability and non-financial performance, but also significant negative regulation dynamic ability and financial performance direct relationship, but the relationship between non-financial performance and financial performance lack of regulatory effect.
【学位授予单位】：哈尔滨工程大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F425;F406.7

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