文献类型：期刊文献

中文题名：股权结构对合资企业绩效的影响研究——基于组织学习的视角

英文题名：The Impact of Shareholder Structure on IJVs’ Performance——An Organizational Learning Perspective

作者：阎海峰[1];沈锦杰[1]

机构：[1]华东理工大学商学院,上海200237

年份：2010

期号：4

起止页码：151

中文期刊名：中国工业经济

外文期刊名：China Industrial Economics

收录：CSTPCD;;国家哲学社会科学学术期刊数据库;北大核心:【北大核心2008】；社科基金资助期刊;CSSCI:【CSSCI2010_2011】；

基金：国家自然科学基金项目"在华跨国公司网络中本土企业学习效应研究"(批准号70302016);上海市浦江人才计划项目"企业国际化进程中的学习研究"

语种：中文

中文关键词：股权结构;吸收能力;企业绩效;国际合资企业

外文关键词：shareholder structure ; absorptive capacity ; performance ; international joint venture

摘要：作为影响国际合资企业发展和运作的一个重要因素,股权结构与企业绩效的关系研究,是相关学术领域的一个重要议题。但不同学者的研究结论依然存在分歧,表明合资企业股权结构与其绩效之间的关系并不单纯。本研究从组织学习视角,运用吸收能力这一构念,对合资企业股权结构与绩效之间的复杂关系,以及内部作用机制进行探究,以期为这一重要研究议题,提供来自中国市场的证据。通过对95家中外合资企业的实证研究,我们发现,中外双方均衡持股的合资企业拥有最高的绩效,中方控股的次之,外方控股的最低。同时发现,合资企业的吸收能力在股权结构影响企业绩效的过程中起到完全中介的作用,较好地揭示了股权结构对合资企业绩效影响的作用机制。研究者建议,中国企业在参与国际合资时,对于股权控制问题应非常慎重,且不能轻易放弃控股权;在股权结构不变的条件下,则需要有意识地通过组织管理控制策略,提高企业的知识吸收能力,以获得更高的绩效。
Assuming that there is a logical relationship between ownership structure and international joint venture （IJV） performance, many researchers have proposed various models to explore and identify the relationship between these two factors. However, the findings are divergent. As one of the biggest transition economy with numerous IJVs, what＇s the relationship between ownership structure and IJV in Chinese market？ And how about the mechanism is behind the relationship？ This study aims to explain the complex relationship between ownership structure and performance from organizational learning perspective, employing the construct of absorptive capacity. Based on a sample of 95 Sino-foreign JVs in China, this study finds that IJVs with an equal shareholding achieved the best performance, IJVs with a Chinese dominant partner ranked second, and those with a higher foreign equity stake in ownership produced the worst performance. An organization＇s absorptive capacity plays a mediating role between ownership structure and performance. These results imply that when entering into a joint venture, Chinese enterprises should firstly be prudent regarding equity control, and second, should continuously enhance its absorptive capacity to achieve a higher level of organizational effectiveness.