Research On Strategic Deviance,Managers' Confidence Level And Innovation Performance

Innovation is the source of social economic development and growth of business performance.In particular,after eighteen of the party's innovation and mass entrepreneurship,the country has set off a passionate and innovative entrepreneurial wind.It is the innovative behavior of the enterprises that eventually promoted the rapid growth of China's economy and injected a large amount of fresh blood into the growth and development of the enterprises.But how to transform enterprise's innovative consciousness into innovative behavior and how to transform innovative behavior into innovation performance is the key for enterprises to enhance competitiveness and base themselves on the market.On the research of innovation performance,the existing literature is generally based on the environment,resources and the factors of "human".Moreover,the role of managers and decision makers in corporate innovation activities is mainly focused on executives' participatory research,ignoring the research on the effect of innovation in the field of strategy.Study on the defects in the current,based on the existing literature,this paper based on the 2008-2015 in Shanghai and Shenzhen two A shares of non-financial listed companies as samples,through screening,excluding missing data,a total of 1655 enterprises in 7196 samples,the WIND database and CSMAR database,collects the performance of enterprise innovation and strategic difference and the managerial overconfidence in terms of data using Stata11.0 statistical analysis software for data processing and statistical analysis,the Pearson correlation analysis,we establish a linear regression model,empirical test of the relationship between enterprise strategy and enterprise innovation performance between,and further study managers' confidence level does play a role in the regulation and has a moderating effect on the relationship between what the difference of enterprise strategy and innovation performance.The research results show that the bigger the strategic deviance of enterprises is,that is,the more effective the strategy of enterprises deviates from the mainstream trend of the same industry competitors,the smaller innovation performance of enterprises.Meanwhile,under other conditions,managers' confidence level has a negative moderating effect on the negative correlation between strategic deviance and innovation performance.That is to say,managers'confidence level can alleviate the negative correlation between strategic differences and their innovation performance.In order to avoid the instability of the conclusion and increase the universality of the conclusion,the paper also replaced the main variables and carried out a series of robustness tests.The results of robustness test show that the above conclusions are still valid.