Top Manager’s Ties And Coporate Investment Behavior

Using the method of experimental research,this paper explores the influence of inter-corporate top manager’s ties on corporate investment behavior from the perspective of inter-corporate networks based on the imitation theory,and finds that there is imitating investment behavior between inter-corporate networks.In addition,taking the advantage of the logical framework of imitation and the aid of Tarde’s three laws of imitation,We analyze the joint enterprise two factors-strength,industry and the target enterprise network center degree, adjust the main effect respectively and get three results:First,compare with joint enterprise and target one not same industry,target enterprise’investment is more affected by joint enterprise’investment when they are same industry,and target enterprise top managers expect more real gains;Second,compare with joint enterprise small,weak and low in its industry,target enterprise’investment is more affected by joint enterprise’ investment when joint enterprise are bigger,stronger and higher,and target enterprise top managers expect more real gains;Third,compare with the target enterprise low network center degree,the ones who are closer to the center of the inter-corporate network possess more resources,and the top managers are not too willing to imitate other ones,and that leads to the investment willing and expect real gains difference not significant.The paper not only reveals the logical relationship of invest imitation in the inter-corporate networks created by top manager’s ties,but also further improves the corporate investment behavior research from the perspective of inter-corporate networks.