CEO权力与国际化速度——TMT风险注意力的中介作用

摘要/Abstract

摘要： 中国企业“激进”“跳跃”式国际化进程的背后隐藏着高风险。CEO权力是国际化战略的重要影响因素，但鲜有研究涉及其对高管团队（TMT）认知产生作用并进而影响国际化战略的内部机制。以中国企业上市公司国际化后速度为研究对象，基于注意力基础观“组织情境—注意力配置—决策行为”经典范式，实证分析TMT国际化风险注意力在CEO权力与国际化速度之间的中介作用。研究结果表明：强权CEO在任期内增加投资力度是其获取利益的常见手段。同时，权力能够激发CEO行为趋近系统，从而令其更加追求快速国际化的收益而忽略风险。通过对组织活动、流程、沟通产生影响，CEO权力成为TMT决策的重要组织情境，从而对其注意力造成影响。强权CEO对国际化扩张的乐观情绪会降低TMT国际化风险注意力。当高管团队将注意力较少地集中于国际化风险因素时，国际化速度也随之增加。

关键词: CEO权力, TMT国际化风险注意力, 国际化速度

Abstract: High risks are hidden behind the "accelerated" and "leap-style" internationalization process of Chinese enterprises. CEO power plays an important role in the internationalization strategy, yet few studies discussed its internal mechanisms of how CEO power influences the internationalization strategy through changing TMT cognition. Based on the classic paradigm of "organizational situation-attention allocation-decision-making", taking the internationalization speed of Chinese listed companies as the research object, this study examines the TMT international risk attention as a mediating mechanism linking CEO power to internationalization speed. The results show that CEOs with high power obtain benefits during their tenure by increasing investment commonly. Meanwhile, power spurs behavior approach systems, making CEOs pursue the benefits of rapid internationalization and ingore risks. CEO power becomes an important organizational context for TMT decisions and affects their attentions by influencing organizational activities, process, and communications. The optimism of CEOs with higher power will reduce TMT's international risk attention. The speed of internationalization increases when TMT pays less attention to international risk factors.

Key words: CEO power, international risk attention, internationalization speed

方宏, 王益民, 孙晨. CEO权力与国际化速度——TMT风险注意力的中介作用[J]. 管理评论, 2021, 33(9): 260-273.

Fang Hong, Wang Yimin, Sun Chen. CEO Power and Internationalization Speed of Chinese Firms——The Mediating Effect of TMT Risk Attention[J]. Management Review, 2021, 33(9): 260-273.

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