| As modern companies pay more and more attention to the environment outside the organization,many researchers are increasingly interested in various cross-over activities that affect organizational implementation.They focus on understanding the emergence of cross-over growth behaviors during the initial period,growth period,maturity period,and recession period from the perspectives of business models,synergies,or business cycles,but seldom focus on the real drivers behind these aspects.The performance feedback theory believes that the past business performance of an enterprise is an important basis for judging whether the strategic actions taken by the company are highly effective.Under the state of profitable business performance,the decision makers believe that the strategy adopted in the early period is effective,the more profitable,the more effective the strategy is.Performance pressure is an important criterion for whether a company continues or changes a strategy.Therefore,based on the theory of performance feedback,skipping the intermediate mechanisms that affect cross-border growth,it is of great practical significance to explore directly how to influence the cross-border growth strategy of enterprises from the perspective of performance pressure.Although studies have shown that previous performance is one of the motives for companies to choose crossover,this kind of research only discusses in general the effects of different previous performances on the cross-over strategies implementation,and there are few studies focus on the specific cross-over strategies.Based on the performance feedback theory and the theory of high-level echelons,this paper focuses on the possible mechanism of performance pressure and cross-over growth strategy of the company,and analyzes the regulatory role of the manager's environment,organization and individual autonomy on the relationship between them.To verify the hypothesis of the article,first of all,the concept definition and literature review of performance pressure,cross-over growth of enterprises,and management autonomy.Cross-industry and cross-regional are divided into two dimensions,and Management autonomy is divided into three dimensions.Then the data was collected from the database of Wind and GTA database,using Excel for data processing and using Stata14 software for causality testing to determine the dependent variable lag by one year,and finally using Stata14 software for correlation analysis and regression analysis.The results of the study indicate that the greater the performance pressure,the higher the level of managers cross-industry and cross-regional growth,the lower the degree of implementation of international growth,at the same time the higher degree of environmental autonomy(lower capital intensity),strengthened the degree to which managers implement cross-industry and cross-international regional growth strategies when performance pressures are expanding;while having higher organizational autonomy(non-state-owned enterprises)also strengthens managers' implementation of cross-regional growth strategies when performance pressures expand.Higher personal autonomy does not have a significant impact on cross-industry and cross-regional growth strategies,while strengthening individual managers' ability to enforce performance pressures without expanding international growth strategies.The innovation of this research lies in the perspective of performance feedback theory,which explores the positive and negative effects of two different business performances on the selection of cross-over growth strategies for enterprises,and extends the previous cross-over-performance process to performance-cross-over.It deepens the research on the enterprise's strategic decision-making under the pressure of performance,and it is also beneficial to understand and study the impact mechanism of performance pressure and management autonomy on corporate managers' decision-making in the context of China's transition economy.Finally,it points out the insufficiency of the content and method of this paper,and proposes future prospects according to the research results.It hopes to provide some reference for future researchers. |
