Internationalization is the most important strategic initiatives for Chinese enterprises to gain sustainable growth and to improve global competitiveness.The top management team (TMT),as the strategic decision maker and implementer,has an important impact on internationalization.However,existing research has focused on the impact of TMT's demographics on internationalization due to the lack of research data,so the cognitive process behind the relationship remains less known.In view of this,our study investigates the influence of TMT cognitive features (attention) on company's international performance.Based on manually collected data about TMT attention and internationalization in technology-intensive industry,this paper empirically examined the effects of TMT attention on company's international performance.The results show that:(1) the international performance is better in the enterprises in which the TMT pays more attention to internationalization and this also shows the TMT attention is an important determinant of company's internationalization.(2) Managerial power and managerial discretion can moderate the relationship between the TMT attention and international performance:stronger managerial power and higher managerial discretion will lead to more positive impact of TMT attention on international performance.This study explores the micro-foundations of enterprises' internationalization,and further provides theoretical and empirical evidence for Upper Echelons Theory.These results have important implications for Chinese enterprises' internationalization.%国际化是中国企业实现可持续成长和提升全球竞争力的重大战略举措,企业高管团队作为战略决策的制定和执行者对国际化有极为重要的影响.由于受到研究数据的局限,现有研究侧重于探讨企业高管团队的人口统计特征对企业国际化的影响,对背后的认知过程研究较少.有鉴于此,本研究进一步探讨企业高管团队的认知特征(注意力)对企业国际化绩效的影响机理,以丰富和拓展现有研究.通过手工收集技术密集型制造业企业的高管团队注意力和企业国际化的相关数据,本文基于实证检验发现:(1)高管团队对企业国际化的关注程度越高,企业的国际化绩效越好,说明高管团队注意力的确是企业国际化成败的重要决定因素;(2)高管权力和管理自由度对注意力与国际化绩效之间的关系有调节作用:高管权力越大、管理自由度越高,注意力对国际化绩效的正向影响越强.本研究揭示了企业国际化的微观认知和心理基础,深化和拓展了高阶梯队理论,研究结论对提升中国企业国际化绩效有重要启示.
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