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创业导向对新创企业有着更为明显的积极影响,而CEO对企业战略的选择起着重要的作用。从微观层面的视角出发,实证研究CEO政治关联对企业创业导向的影响机理,并考察CEO持股如何调节CEO政治关联与创业导向的关系。研究结果有利于企业董事会结合企业自身特点,通过设置合理的CEO持股,促进企业的资源配置效率和长期价值的提升。
Entrepreneurial orientation has a more significant and positive impact on startups, and CEOs play an important role in the choice of corporate strategy. From the microscopic level, this paper empirically studies the influence mechanism of CEO political association on the entrepreneurial orientation and examines how CEO ownership adjusts the relationship between CEO political linkage and entrepreneurial orientation. The results of this study are in favor of the board of directors combining the characteristics of the enterprise itself, and by setting a reasonable shareholding of CEO, promote the efficiency of resource allocation and long-term value enhancement.