Research on the Mediate and Moderate Factors between Executive's Attitude and Investment Efficiency -- Taking the Software and IT Service Industry as an Example

Abstract

Taking China's software and IT service industry from 2018 to 2021 as a sample, this study explores the mediator and moderator of enterprise strategic radicalization in the executive's positive attitude and investment efficiency. The findings show that when the chairman and general manager of a company are in one position, the strong positive impact of management on investment efficiency will have the opposite effect; Furthermore, the degree of enterprise strategic radicalization has a mediating effect between the positive attitude of management and inefficient investment, and this situation is particularly evident when the size of the company's board of directors is small. However, regardless of the size of the board of directors, it will play a positive regulatory role in the degree of strategic radicalization and investment efficiency. That is, when the degree of strategic radicalization is higher, the larger the board of directors will help improve investment efficiency. In addition, the degree of enterprise strategic radicalism has a mediating effect between management attitude and investment efficiency, but this situation is more pronounced when the proportion of male board members is low. Regardless of the proportion of male directors in a company, it will have a positive moderating effect on the degree of strategic radicalization and investment efficiency. Finally, the stronger the positive attitude and the higher the proportion of independent directors, the more likely it is for the enterprise to increase its strategic radicalization. However, this has no impact on investment efficiency.