摘要
以高管背景特征影响企业行为为主要切入点,选取2012—2021年我国沪深两市A股全部上市公司作为研究样本,探讨了CEO商业资本对上市公司过度投资的影响及会计信息质量在二者中起到的调节作用。研究结果表明:CEO商业资本能够显著抑制企业过度投资;高会计信息质量强化了上市公司CEO商业资本对过度投资的抑制作用;企业产权性质是影响CEO商业资本与过度投资关系的重要因素。
With a primary focus on the impact of executive background characteristics on corporate behavior,this study selected all the A-share listed companies on the Shanghai and Shenzhen stock markets in China from 2012 to 2021 as research samples.It examined the influence of CEO business capital on excessive corporate investment and the moderating role of accounting information quality.The research results indicate that CEO business capital can significantly restrain excessive corporate investment;high-quality accounting information strengthens the inhibitory effect of CEO business capital on excessive investment by listed companies;and the ownership nature of the company is an important factor influencing the relationship between CEO business capital and excessive investment.
作者
尹宗成
穆阳暘
YIN Zongcheng;MU Yangyang(School of Economics and Management,Anhui Agricultural University,Hefei 230601,China)
出处
《合肥师范学院学报》
2023年第4期55-62,共8页
Journal of Hefei Normal University
基金
安徽省哲学社会科学项目“基于微观视角的中小投资者保护工作效果评估与制度完善研究”(AHSKY2020D20)。
关键词
高管背景特征
CEO商业资本
会计信息质量
过度投资
executive background characteristics
CEO business capital
quality of accounting information
excessive investment
