Research On The Relationship Between Executive Team's Attention,Corporate Cross-Border Growth And Dynamic Capabilities:the Moderating Effect Of Managerial Discretion

With the increasingly multidimensional and complex market competition,a single production mode is increasingly difficult to meet the business requirements of enterprises.In order to survive in the ever-changing environment,enterprises have integrated their existing resource advantages and crossed the original border for development.This phenomenon has gradually become a hot research topic in academic circles.Scholars have explained the influence mechanism of cross-border growth strategy from macro-policy,organizational positioning and characteristics of senior management team,but the research on cognitive factors of senior management team is rare.The attention-based view holds that enterprise behavior is the result of how to guide and allocate the attention of decision makers.Cross-border growth is a highly complex and uncertain process,which can be intellectually guided and resourced by the attention allocation of top management team.Therefore,it is of theoretical and practical significance to explore how the attention allocation of top management team affects the cross-border growth of enterprises.Based on the upper echelon theory and the attention-based view,this paper explores the possible mechanism between the attention allocation of the top management team and the cross-border growth of enterprises,and analyses the mediating and moderating role of dynamic capability and management discretion in it.In order to verify the hypothesis,this paper collects and collates data from the annual reports of listed companies and the Cathay Taian database,and makes correlation analysis and regression analysis with Stata14 software.The results show that the more attention allocation of top management team,the higher the degree of cross-industry and cross-regional growth of managers;the intermediary role of enterprise adaptability between attention of top management team and cross-border growth of enterprises;at the same time,strong management discretion has a significant moderating effect on attention allocation of top management team and dynamic capability of enterprises.The innovation of this study lies in exploring the mechanism of top management team's attention allocation in cross-border growth strategy from the perspective of attention-based view,and empirically investigating the path of top management team's attention allocation-dynamic ability-cross-border growth strategy,and discussing the moderating role of management discretion in this process.This study is helpful tounderstand how enterprises concentrate on environmental uncertainties and implement cross-border growth strategies more efficiently.Finally,this paper points out the shortcomings of the possible research contents and methods,and puts forward the future prospects based on the research results,hoping to provide some reference for future researchers.