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资源配置视角下战略调整测度及其对绩效的影响

, PP. 19-26

Keywords: 战略调整,企业绩效,资源配置,角度变化

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Abstract:

?企业战略理论认为战略调整显著影响公司绩效,然而就战略调整测度方法、战略调整对绩效的作用关系等问题的研究尚未达成一致结论。针对战略调整测度,提出基于关键资源配置向量的调整测度方法,通过关键战略资源配置向量的角度变化、变化模和变化弧度等来分别测度战略调整的角度、幅度和总量。运用我国沪深A股1317家上市公司2005-2012年的财务数据,建立动态面板数据回归模型,实证分析战略调整对企业绩效的影响。研究发现,战略调整对企业未来绩效的影响存在适应性和破坏性效应,随着战略调整程度的增大,适应性效应递减而破坏性效应递增,战略调整与绩效呈现倒U型关系,这为进一步探寻战略调整与绩效的函数关系和最优战略调整决策提供了理论参考。

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