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中文摘要：
本文以我国制造业上市公司为样本，探讨组织冗余与公司绩效之间的关系，并检验治理制度对二者关系的调节作用。结论表明，在中国转型经济情境下，组织冗余与企业绩效之间存在倒U型的关系，一定的冗余资源有利于企业应对外部环境压力以提升企业绩效，而过量的冗余资源由于其高额成本及代理问题对企业绩效造成损害。同时，随着企业内部治理制度的不断完善，治理效率和治理水平的不断提高，组织冗余对企业绩效的影响将减弱。
英文摘要：
Through the empirical study on Chinese manufacturing companies, the relationship between organizational redundancy and firm performance is explored, and the moderating role of governance institution on it is verified. Conclusion shows that the in- verse U - shaped curves is able to describe the relationship, and some redundant resources, which are good for enterprises copy- ing with the external circumstance pressures, would help improving firm performance, however too much redundant resources would finally lead to excessive costs and damage the performance. Meanwhile, with the improvements of micro institutions - cor- porate governance, management level, and management efficiency, the organizational redundancy would have less influence on the firm performance.
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