摘要
在分析农业上市公司背农动机时,现有研究主要采用传统的理性经济人分析框架。文章以高管过度自信作为区分背农行为理性与否的标准,采取直接论证法和间接推导法相结合的方式,实证分析了不同背农动机的显著性与相对重要性。研究结果表明:非理性因素的引入大幅提升了对背农行为及其绩效后果的解释能力。相对于提高绩效的经济理性动机和降低风险的组织理性动机而言,背农行为的非理性动机和追求高管私利的个人理性动机更为显著。
Different from the traditional rational analysis framework, the paper adopts irrational factor measured by CEO overconfidence to analyze the significant level and contribution of nonagricultural opera- tions' motivations in the listed agricultural companies through the direct demonstration method and indi- rect derivation method. The result shows that introduction of irrational factor significantly enhances the a- bility to explain nonagricultural operations and its performance. Relative to the economic rational motiva- tion to improve enterprise performance and the organization rational motivation to reduce operational risks, the irrational motivation and the individual rational motivation to pursuit executive self-interest are more significant in Chinese listed agricultural companies' nonagricultural operations.
出处
《西安财经学院学报》
CSSCI
2013年第4期70-76,共7页
Journal of Xi’an University of Finance & Economics
基金
湖北省科技厅软科学研究专项项目(2011DEB007
2012GDA033)
湖北省襄阳市软科学项目(襄科业[2012]43号)
湖北省人文社科鄂北基地资助项目(2010JDY18)
关键词
农业上市公司
背农动机
非理性动机
企业高管
the listed agricultural companies
nonagricultural operations
irrational motivation
CEO