CEO过度自信、女性董事与公司违规

CEO′ Overconfidence,Female Board and Violation of Company

通过多元回归方法研究发现,CEO过度自信导致上市公司出现违规行为的概率增加。从具体行为看,CEO过度自信会导致上市公司出现高层个人违规、经营违规和披露违规的概率均增加,其中高层个人违规与CEO过度自信联系最为紧密,CEO过度自信对其影响程度最大;董事会性别均衡会缓解过度自信的负面影响。

By multivariate regression method,We find that there is a high level of"bravery"among senior executives indeed,overconfidence leads to an increase in the probability of illegal behavior of listed companies.In terms of specific behavior,senior executives overconfidence will lead to high-level individual violations of listed companies,and the probability of operating violations and disclosure violations will increase.Among them,high-level individual violations are most closely related to senior executives'overconfidence.Executive overconfidence has the greatest impact;the gender balance of the board mitigates the negative impact of overconfidence.