营商环境的优劣直接影响微观企业行为,进而作用于轻资产运营。文章以中国资本市场2009-2018年间A股上市公司为研究样本,实证考察营商环境与轻资产运营之间的关系。研究显示,营商环境对轻资产运营产生了显著的正向影响,即营商环境的改善增强了轻资产运营。通过分析其内在机制发现,营商环境主要通过提升研发能力和营销能力促进了轻资产运营;进一步的情境性分析表明,营商环境对轻资产运营的正向影响伴随股权激励强度的增强而上升,而国有产权性质则弱化了营商环境对轻资产运营的正向影响。这一结论为研究营商环境与轻资产运营之间的关系提供了增量的经验证据,同时也对企业运营模式选择有所启示。
营商环境与轻资产运营——基于股权激励和产权性质的情境性分析
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引用本文
周泽将, 高停停, 张世国. 营商环境与轻资产运营——基于股权激励和产权性质的情境性分析[J]. 上海财经大学学报, 2020, 22(6): 52-64.
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