讲座主题：GOVERNMENT OWNERSHIP AND FIRM PERFORMANCE IN MARKET GROWTH: A PERSPECTIVE OF INSTITUTIONALLY SHAPED AGENCY

　　主讲人：李骥

　　讲座地点：B127

　　讲座时间：2017年12月21日(周四)上午10：00-11：30

　　摘要: Integrating the perspective of agency theory with that of institutional theory, we study how government ownership influences firm growth performance in a large macro economy such as China’s socialist market economy. Focusing on effects of both internal and external institutional settings on firms’ top manager or key agents, we propose a theoretical perspective of institutionally shaped agency, and test hypotheses based on this perspective in 372 geographical or administrative regions in 31 provinces of China. Analyzing a set of panel data (N= 37,861) from 124 insurance firms in China over the period from 2005 to 2014, we find results different from prior research. While research in the West showed that private ownership is generally preferred to government ownership when incentives to innovate and to contain costs are strong (e.g., Shleifer, 1998), we demonstrate that this ownership-performance relationship can be positive, which is contingent upon firm strategy and local institutional setting. Also, while research in emerging markets showed marketization can weaken the effect of government ownership on firm performance (e.g., Zhou, Gao and Zhao, 2017), our findings suggest that that marketization can enhance the positive effect of government ownership. What makes a difference here is the dimension of firm performance being considered. Finally, government ownership-performance relationship can also vary between different macro-economies, such as between European community (e.g., Fligstein and Sweet, 2002) and socialist market economy in China.

　　个人简介：

　　李骥教授，博士毕业于加拿大多伦多大学管理学专业，现任香港浸会大学管理学教授。李骥教授的研究兴趣包括公司战略层面的制度理论、共生理论、创业精神、企业社会责任、环境保护等。 他的研究成果曾多次在管理学的主要国际会议上获奖，这些会议包括 Academy of Management Conference、Asian Academy of Management Conference和International Entrepreneurship Forum Conference。他已经在国际著名学术期刊上发表了七十多篇研究论文。这些期刊包括Journal of International Business Studies、Strategic Management Journal、Journal of World Business、Industrial Marketing Management 、Human Resource Management、Journal of Business Ethics、Cornell Hospitality Quarterly、 Journal of Product Innovation Management、International Business Review、International Journal of Human Resource Management、Long Range Planning、British Journal of Management以及Asia Pacific Journal of Management等等。 此外，他还经常参加各种与学术有关的公益活动，例如为香港政府支援汶川地震地区提供咨询，担任香港政府博士奖学金审查委员会委员等。