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近几年来,基于战略导向的全面预算管理逐渐成为公司新型的管理方式。本文以权变理论和战略预算管理理论为基础,对我国A股上市公司战略选择与预算执行松弛之间的关系进行了初步探讨。研究结果表明:我国上市公司普遍存在较为严重的预算执行松弛现象,并且这种预算执行松弛行为多表现为公司第四季度的业绩优于前三季度的平均业绩;公司多元化战略、国际化战略和差异化战略的程度均偏低,说明公司普遍立足于国内市场,偏好专业化经营和发挥成本优势;战略预算管理理论、权变理论与代理理论均能很好地解释公司预算执行松弛现象,故预算执行松弛应是个“中性”概念;公司多元化战略程度与预算执行松弛程度显著负相关,国际化战略程度与预算执行松弛程度显著正相关。
In recent years, the overall budget management based on strategic orientation has gradually become the new management style of the company. Based on contingency theory and strategic budget management theory, this paper discusses the relationship between the strategic choice of China’s A-share listed companies and the relaxation of budget implementation. The results show that: the listed companies in our country generally have more severe budget execution slack phenomenon, and this kind of budget execution slack behavior mostly shows that the company’s performance in the fourth quarter is better than the average performance in the first three quarters; the company diversification strategy, internationalization strategy And differentiation strategy are low, indicating that the company generally based on the domestic market, preferred professional management and play the cost advantage; strategic budget management theory, contingency theory and agency theory can explain the company’s budget execution relaxation phenomenon, so The relaxation of budget implementation should be a “neutral” concept. There is a significant negative correlation between the degree of corporate diversification strategy and the degree of slackening of budget implementation. The degree of internationalization strategy is significantly and positively correlated with the degree of relaxation of budget execution.