高管背景特征、会计稳健性与融资约束——基于供给侧改革的背景

Management Background Characteristics,Accounting Conservatism and Financing Constraints Based on Supply-Side Reform of Ownership Structure

在供给侧改革背景下,基于融资约束影响因素相关文献的综述和理论分析,本文以2010-2014年中国A股上市公司为样本,分析了高管背景特征、会计稳健性与融资约束之间的关系。研究表明:会计稳健性与融资约束之间呈显著的负相关关系;企业高管男性比例对会计稳健性与融资约束关系具有负向调节作用;企业高管平均年龄对会计稳健性与融资约束关系具有正向调节作用。

Based on supply side reform of ownership structure and the previous studies of the influence factors of financing constraints and by taking the data of Chinese listed firms between 2010 and 2014 as the research sample, this paper researches the relation among management background characteristics, accounting conservatism and financing constraints. The result shows: there is a significant negative correlation between accounting conservatism and financing constraints; the proportion of male executives has a significant negative effect on the relationship between accounting conservatism and financing constraint; the average age of executives has a significant positive effect on the relationship between accounting conservatism and financing constraint.