| As an indispensable mode of operation in national economy,private economy plays an important role in business model,technological innovation.and employment of ordinary people.Enterprises will produce some organization slack in the process of development.The current academic circles after tracking and investigation of the enterprise,have recognized organization slack has important influence on enterprise performance,but different scholars from different theoretical perspective has a different view on organization slack.According to the organizational theory,redundant resources increase the cost,but in the face of emergencies,they play a buffer role in the environmental changes inside and outside the enterprise,which can solve the impact of environmental changes on enterprise resources and core technologies,and positively improve enterprise performance.Agency theory holds the opposite view.First of all,this article has carried on the full of theoretical research and literature review,including the definition,classification of organization slack,organization slack and enterprise innovation investment review and summarize the related literature,and on this basis to 2012-2016 sample data A-share listed private companies in China as the foundation,starting from the availability of resources,respectively,to be developed potential slack and slack,available slack and innovation investment and its boundary conditions,the relationship between the executive education background and market competition intensity of regulation to establish regression model,has carried on the empirical test.By using Stata15.0 data analysis software to conduct descriptive statistics,correlation test,regression analysis and stability test of sample data,the following conclusions are mainly drawn:there is an inverted U-shaped relationship between slack,potential slack and innovation input,and there is a positive relationship between slack and innovation input.Further research shows that the improvement of the education background of executives and the enhancement of external market competition will strengthen the relationship between organizational slack and innovation investment.This provides a new conclusion for the research on the relationship between organizational slack and enterprise innovation investment and also provides a practical guide for private enterprises in China on how to improve organizational performance through effective management of organizational slack.Based on theoretical analysis and empirical test results,this paper proposes the following policy recommendations:at the operation level,enterprises should actively seek the critical point of organization slack that can make the investment level of technological innovation reach the highest,so as to control the number of different types of slack in the optimal range.At the level of corporate governance,executives should strive to improve their ability to distinguish and make use of organizational slack,and give full play to the promotion effect of organizational slack on innovation input to avoid its negative impact.On the macro environment,the government should actively promote the marketization process,create a non-monopoly market competition environment conducive to invigorating enterprises,and promote enterprises to increase their input in technological innovation.At last,the paper analyses the shortcomings of the research and looks into the future development direction of the research. |
