摘要
董事会作为公司治理的核心,是影响企业绩效的重要因素,企业的成长性是其业绩提高的动力来源。本文以22007~2012年为研究区间,选取我国18家旅游上市公司为研究样本,利用层次回归法,对公司成长性对董事会治理与企业绩效关系的调节效应进行实证分析。研究发现,我国旅游上市公司的成长性对董事会结构特征与企业绩效无调节作用;而成长性对董事会行为特征与企业绩效的关系起到正向调节作用;成长性越好,董事会激励特征对企业绩效的负向影响越弱。
As the core of corporate governance, the board is an important factor affecting operating performance. The growth is the power source improving operating performance. By sampling 18 China's listed tourism companies from 2007 to 2012, this paper made an empirical investigation of the moderating effects of growth on the relation between board governance and operating performance through hierarchical regression. The results showed that the growth of China's listed tourism companies has no adjusting effect on the relation between board structure characteristics and operating performance. The growth has a positive impact on the relationship between directors behavior characteristics and operating performance.
出处
《北京第二外国语学院学报》
2014年第9期28-37,共10页
Journal of Beijing International Studies University
基金
教育部人文社科规划基金项目(10YJA790243)
关键词
成长性
董事会治理
企业绩效
调节效应
旅游上市公司
growth
board governance
performance
adjusting effect
China's listed tourism companies