【摘要】：文章使用中國A股上市公司企業(yè)數(shù)據(jù),研究了制度環(huán)境作為企業(yè)轉(zhuǎn)型升級(jí)的基礎(chǔ)性決定因素,在企業(yè)風(fēng)險(xiǎn)水平與企業(yè)績效關(guān)系間所起的調(diào)節(jié)機(jī)制。結(jié)果顯示:在其他條件不變情況下,轉(zhuǎn)型升級(jí)企業(yè)風(fēng)險(xiǎn)承擔(dān)水平與企業(yè)市場績效呈倒U型曲線關(guān)系;轉(zhuǎn)型升級(jí)中企業(yè)的制度環(huán)境對(duì)企業(yè)風(fēng)險(xiǎn)承擔(dān)與市場績效的關(guān)系有調(diào)節(jié)作用;其中政府管理水平維度對(duì)風(fēng)險(xiǎn)承擔(dān)與市場績效關(guān)系有顯著正向影響;金融服務(wù)環(huán)境維度對(duì)風(fēng)險(xiǎn)承擔(dān)與市場績效也有正向促進(jìn)作用;要協(xié)調(diào)好企業(yè)風(fēng)險(xiǎn)承擔(dān)水平與績效的關(guān)系,市場主體充分發(fā)揮好不同制度環(huán)境要素的功效。
[Abstract]:Based on the corporate data of Chinese A-share listed companies, this paper studies the regulatory mechanism of institutional environment as the basic determinant of enterprise transformation and upgrading, and the relationship between enterprise risk level and enterprise performance. The results show that, under the same conditions, the risk-bearing level of the transforming and upgrading enterprises is inversely U-shaped curve with the market performance, the institutional environment of the enterprises in the transition and upgrading has a moderating effect on the relationship between the risk-bearing and the market performance of the enterprises. The dimension of government management level has significant positive influence on the relationship between risk bearing and market performance, and the dimension of financial service environment has a positive effect on risk bearing and market performance. It is necessary to coordinate the relationship between the risk bearing level and the performance of the enterprise, and give full play to the effectiveness of different institutional environmental factors.
【作者單位】： 河海大學(xué)商學(xué)院;泰州學(xué)院;
【分類號(hào)】：F272.3;F272.5

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