Author(s)

Xiaoxia Liu ¹, Jiansheng Gan ¹, Lei Zhong ¹

Affiliation(s)

¹ School of Economics and Trade, Hunan University of Technology, Zhuzhou, Hunan, 412000, China

Corresponding Author

Xiaoxia Liu

ABSTRACT

Based on the perspective of Guanxi and differential pattern theory, this paper divides the sources of CEO into family CEOs, acquaintances CEOs, and outsiders CEOs, and empirically analyzes the impact of CEO sources on innovation investment of private enterprises in the Shanghai and Shenzhen A-share listed companies from 2007 to 2018. Research has shown that the sources of CEO has a significant negative impact on the level of innovation investment in enterprises, and the strength of CEO power has a significant positive impact on the level of innovation investment in enterprises. The CEO power intensity plays a mediating role in CEO sources and innovation investment of enterprises, while equity incentives play a positive moderating role in the sources of CEO and CEO power intensity.

KEYWORDS

CEO sources, CEO power intensity, innovation investment, equity incentives

CITE THIS PAPER

Xiaoxia Liu, Jiansheng Gan, Lei Zhong, The Mediating Role of CEO Power Intensity in the Relationship between CEO Source and Innovation Investment of Private Enterprises. Industrial Engineering and Innovation Management (2023) Vol. 6: 39-51. DOI: http://dx.doi.org/10.23977/ieim.2023.060505.

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