中小企业国际化扩张会对企业商业模式转型产生何种影响?中小企业公司治理能否有效解决商业模式转型中的代理问题?基于资源依赖和公司治理视角,以深圳证券交易所中小上市公司为样本,采用多层线性回归方法研究发现:①从短期看,我国中小企业国际化战略对商业模式转型有显著抑制作用.随着国际化程度的加深,在国际化环境下获得的资源对商业模式转型存在积极作用,但影响效果不显著;②高管短期薪酬激励对企业商业模式转型有显著消极作用,高管持股激励对企业商业模式转型具有积极影响,但影响效果不显著;③公司治理中的监督机制能够有效解决由管理者自利行为引发的代理问题,公司监督能力越强,商业模式转型程度越大;④国际化战略实施和公司治理间的强化作用不显著.%How do Internationalization of SMEs affect business model of transformation ?Can the corporate governance of SMEs effectively solve the agency problem of business model transformation ?However ,prior research largely ignores the above issues .Based on the resource dependence and corporate governance theory ,taking the Shenzhen Stock Exchange lis-ted companies as the research samples and using multiple linear regression method ,the article explores the relation be-tween the internationalization strategy ,corporate governance and business model transformation .The research showe that :①in the short term ,internationalization strategy of SM Es in China have significant inhibitory effect on the business model transformation ;with knowledge and resources in the international environment ,international depth has positive effect on business model transformation ,but not significant ;②the executive compensation incentives has negative effect on business model transformation .executive equity incentive has positive effect on business model transformation ,but not significant ;③ supervision mechanism has positive effect on business model transformation ;④internationalization strategy and corpo-rate governance strengthen each other ,and interaction effect does not existsbetween them .
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