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| Research on the Relationship between Managers’ Succession Sources and Binary Innovation Choice of High-Tech Enterprises |
| XU Wei，ZHANG Rongrong，JIA Jun，LIU Yang |
| Jinan University, Jinnan, China |
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Abstract The research uses listed companies of National Torch Program key high-tech enterprises which are published by the Ministry of science and technology in 2010~2014 as samples. According to the unique institutional background of Chinese capital market, we conduct a comparative study of three types of managers who come from the rotation of positions, internal promotions, and external appointments. At the same time, we use employment duration and academic qualifications as context variables to explore the impact of managers’ succession sources on the binary innovation of enterprises under different scenarios. The study finds that managers from job rotation are not conducive to enterprise binary innovation and have a significant negative correlation with exploratory and exploitative innovation. External hiring managers are conducive to enterprise binary innovation and have a significant positive correlation with exploratory and exploitative innovation. Managers from internal promotion have a significant positive correlation with corporate exploitative innovation. Employment duration and academic qualifications have a moderating effect on the relationship between managers’ succession sources and enterprise binary innovation.
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Received: 23 February 2018
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