女性高管与企业二元创新——基于股权集中度调节效应的研究
Female Executives and Enterprise Dual Innovation—Research on the Moderating Effect of Ownership Concentration

我国正处于经济结构调整的关键时期，科技成为推动经济发展的强大引擎，创新也是企业求生存谋发展的重要方式手段。企业的创新决策与高管团队及结构息息相关，当前国内学术界对于女性高管与企业创新之间关系的研究仍不够丰富深入，共识的结论不多，有关女性高管与企业二元创新之间调节变量的研究更是少之又少。本文以创业板上市公司2015~2020年601家公司的数据为对象，研究女性高管参与对企业二元创新的影响，进一步以股权集中度为调节变量研究其在女性高管参与对企业二元创新影响之间的调节效应。研究结果显示：女性高管参与对企业探索性创新呈倒U型关系，对利用性创新呈正U型关系，股权集中度在女性高管对企业二元创新的影响中有显著的调节效应。
Our country is in a critical period of economic restructuring, technology has become a powerful engine to promote economic development, and innovation is particularly important for the trans-formation of every enterprise. The innovation decision-making of an enterprise is closely related to the executive team. At present, the research on the relationship between female executives and enterprise innovation is still not rich and in-depth, and the consensus conclusions are few, and the research on the moderating variables between female executives and enterprise dual innovation is even fewer. This paper takes the data of 601 companies listed on the Growth Enterprise Market from 2015 to 2020 to study the impact of female executive participation on enterprise binary in-novation, and further uses equity concentration as a moderator variable to study the effect of fe-male executive participation on enterprise binary innovation. The research results show that fe-male executive participation has an inverted U-shaped relationship with exploratory innovation, a positive U-shaped relationship with exploitative innovation, and ownership concentration has a significant moderating effect on the impact of female executives on enterprise dual innovation.