摘要
以目前国内外实证研究中常用的媒体曝光率作为CEO声誉的代理变量,分别从CEO个人特征、企业经营特征、公司治理和企业社会责任承担情况四个方面选取变量来研究CEO声誉的影响因素。实证结果发现,在控制了行业和年度的影响后,CEO薪酬、企业规模、高管持股比例与CEO声誉显著正相关;处在经济发达地区以及董事长与CEO两职合一的企业的CEO声誉更高。此外,对公司进行聚类分析后,社会责任指标体系中的企业对国家贡献率和企业对员工贡献率两个指标也与CEO声誉显著正相关。
This paper selects variables from the four aspects of CEO＇s personal characteristics,business characteristics and performance,corporate governance and corporate social responsibility to study the influencing factors of CEO＇s reputation.After controlling the effect of the industry and year,empirical results show that CEO＇s salary,firm size,proportion of managerial ownership have significant positive correlation with CEO＇s reputation.CEO＇s reputation is high in firm which is in economically developed areas and its chairman and CEO is the same person,In addition, after cluster analysis of the company,the two indicators——business-to-state contribution rate and enterprise＇s contribution rate to employees are significantly correlated with CEO＇s reputation.
出处
《当代经济管理》
2012年第3期19-26,共8页
Contemporary Economic Management
基金
北京市教育委员会共建项目专项资助
关键词
CEO
声誉
个人特征
企业特征
公司治理
社会责任
CEO
reputation
personal characteristics
firm characteristics
corporate governance
social responsibility
