负向绩效反馈对企业战略变革方向的影响

doi:10.6049/kjjbydc.2017070087

SCIENCE & TECHNOLOGY PROGRESS AND POLICY

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The Effect of Negative Performance Feedback on Strategic Change Direction of the Firms

Liu Siyu

School of Management, Zhejiang University, Hangzhou 310058, China

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Abstract The behavioral theory of the firm suggests that performance below aspirations will trigger organizational changes. However, less is known regarding how such performance feedback shape the direction of the changes. Employing the data of all the publicly traded firms in China's A share market from 2007 to 2015, it finds out that negative performance feedback will lead to the strategic dynamism (yearonyear changes) as well as the strategic distinctiveness (deviates from the industry norms) of the changes, and analyst coverage will attenuate such effects.

Key words： Behavioral Theory of the Firm Performance Feedback Strategic Change Analyst Coverage

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Liu Siyu. The Effect of Negative Performance Feedback on Strategic Change Direction of the Firms[J]. SCIENCE & TECHNOLOGY PROGRESS AND POLICY, 2017, 34(19): 92-97.

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http://www.kjjb.org/EN/10.6049/kjjbydc.2017070087 OR http://www.kjjb.org/EN/Y2017/V34/I19/92

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