企业资源对企业多元化扩张方式的影响:基于企业家外部关系的实证研究

摘要

在企业多元化扩张过程中,企业家的外部关系网络对企业多元化扩张方式选择是否有影响?本文将企业家外部关系分为企业家的纵向联系、横向联系以及社会联系三个维度,将企业多元化扩张方式分为内部扩张和外部扩张,研究了企业家外部关系及其各维度对企业多元化扩张方式的影响.基于沪深股市A股上市公司2009-2012年间数据,本文实证研究发现:企业家外部关系对企业多元化扩张方式的选择没有显著影响;而企业家的横向联系越丰富,企业越倾向于选择外部扩张方式;企业家的社会联系越丰富,企业越倾向于选择内部扩张方式.将样本企业分成不同股权性质后,发现企业家的纵向和横向联系显著性没有发生变化,而企业家的社会联系在国有企业中有显著的负向影响,在民营企业中则没有显著影响.最后就企业进行扩张决策时,如何正确对待企业家的外部关系提供了建议.%In the process of the enterprises' expansion, whether the entrepreneurs' external relationships have influence on the decision of the enterprises' multiple expansion mode? This paper divided the Entrepreneurs' external relationships into longitudinal connection, horizontal connection and social connection and divided the company's multiple expansion modes into inner expansion and external expansion. Then it studied the influence of the Entrepreneurs' external relationships on the company's expansion mode. Based on the data of The shanghai and Shenzhen A share market listing Corporation which are from the year of 2009 to 2012 , it found that the Entrepreneurs' external relationships has no influence on the company's expansion mode; but the Entrepreneurs' horizontal connection has significant influence on the company's expansion mode, more vertical connections, more likely to choose external expansion; the company's social connections has significant negative influence on the company's expansion mode, more social connections, more likely to choose inner expansion. But after divided the overall sample into two sub samples according to the ownership property and took a further examinations, it found that the significance of the entrepreneur's vertical and horizontal connections has no change, but the entrepreneur's social connections in the state-owned enterprises has negative effect significantly, but has no significant effect in the private enterprise. In the end, it gives advice on how to treat the Entrepreneurs' external relationships when facing the decision of expansion.