高管团队职能背景与公司创业投资:注意力焦点的中介作用

管理评论 ›› 2022, Vol. 34 ›› Issue (12): 121-130.

高管团队职能背景与公司创业投资:注意力焦点的中介作用

冯健^1,2, 戴维奇^1,2, 周丹^1,2

1. 浙江财经大学工商管理学院, 杭州 310018;
2. 浙江省“八八战略”研究院, 杭州 310018

收稿日期:2020-12-17 出版日期:2022-12-28 发布日期:2023-01-16
通讯作者: 戴维奇(通讯作者),浙江财经大学工商管理学院教授,博士。
作者简介:冯健,浙江财经大学工商管理学院科研助理,硕士;周丹,浙江财经大学工商管理学院副教授,博士。
基金资助:
浙江省社会科学规划一般课题(20NDJC124YB);国家自然科学基金面上项目(71672168);浙江省自然科学基金项目(20G020015;LY19G020013);浙江省高校重大人文社会科学攻关计划项目(2021QN040)。

Top Management Team Functional Background and Corporate Venture Capital: The Mediating Role of Focus of Attention

Feng Jian^1,2, Dai Weiqi^1,2, Zhou Dan^1,2

1. School of Business Administration, Zhejiang University of Finance & Economics, Hangzhou 310018;
2. Zhejiang "Eight-eight Strategy" Research Institute, Hangzhou 310018

Received:2020-12-17 Online:2022-12-28 Published:2023-01-16

摘要/Abstract

摘要： 结合高阶梯队理论和注意力基础观,基于657家中国制造业上市企业数据,运用文本分析和计量经济分析,研究高管团队职能背景与公司创业投资(corporate venture capital)的关系,并检验了注意力焦点的中介作用。研究结果表明,高管团队中具有输出型职能背景的成员比例越高,则其注意力更可能聚焦在企业外部,后者进一步推动企业关注需求变化和技术变动趋势并最终引发公司创业投资。通过引入注意力焦点,打开了高管团队特征影响企业战略决策的“黑箱”,进一步拓展了高阶梯队理论的分析框架。

关键词: 公司创业投资, 高管团队职能背景, 注意力焦点, 注意力基础观, 高阶梯队理论

Abstract: Drawing on the upper echelons theory and the attention-based view, this study uses data from 657 listed manufacturing firms in China to examine the relationship between top management team’s functional background and corporate venture capital as well as the mediating role of attention focus by employing both content analysis and econometrics. The results show that the proportion of top management team’s out-put functional background is positively related to corporate venture capital, and the attention focus plays a partial mediating role between them. In addition, the out-put functional background also leads to external attention focus. This paper not only contributes to the upper echelons theory by opening up the “black box” between top management team’ characteristics and their strategic decision-making, but also has practical implications for Chinese private firm on how to practice corporate venture capital activities.

Key words: corporate venture capital, top management team functional background, focus of attention, upper echelons theory, attentionbased view

冯健, 戴维奇, 周丹. 高管团队职能背景与公司创业投资:注意力焦点的中介作用[J]. 管理评论, 2022, 34(12): 121-130.

Feng Jian, Dai Weiqi, Zhou Dan. Top Management Team Functional Background and Corporate Venture Capital: The Mediating Role of Focus of Attention[J]. Management Review, 2022, 34(12): 121-130.

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