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| On Trust of Large Stockholders to Managers, Control Mechanism,
and Enterprises’ Performance of New Product Development |
| YANG Jian-Jun, LIU Hua-Fang, WU Chun-Peng |
| 1.Xi’an Jiaotong University, Xi’an， China; 2.Xi’an University of Technology, Xi’an, China |
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Abstract This paper explores how the trust of large stockholders to managers affects performance of enterprises’ new product development (NPD).The moderating effect of control mechanisms has also been examined on the relationship between trust and NPD performance. The empirical results from a sample of 150 Chinese manufacturing enterprises reveal that: i) trust of large stockholders to managers has a significant positive effect on NPD performance; ii) trust of large stockholders to managers promote enterprises’ entrepreneurial orientation and then indirectly positive affect NPD performance; iii) enterprises’ financial control has an inverse U moderating effect on the above relationships; iv)strategic control positively moderates the relationship between trust and Entrepreneurial Orientation.
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Received: 25 April 2011
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2012, Vol. 9 
