摘要
面对国内外经济动荡,一些企业选择投身于金融市场的投资活动,过度金融化的现象开始在中国企业中出现.基于此选取了2008~2018年沪深两市部分A股上市公司的相关数据,对CEO的金融背景影响企业金融化发展进行了研究.研究结果发现:CEO的金融背景能促进企业金融化.拓展研究发现:CEO的金融背景对企业金融化的促进作用在两职合一和国有化的企业中效应更为显著.研究结论丰富了有关企业金融化的理论和实证研究,有助于推动企业合理进行金融相关的决策,也为企业管理层的有效建设提供有效启示.
In recent years, in the face of economic turmoil at home and abroad, some companies have chosen to invest in financial market investment activities, and the phenomenon of excessive financialization has begun to appear in Chinese companies. Based on this, selected relevant data of some A-share listed companies in the Shanghai and Shenzhen stock exchanges from 2008 to 2018, the CEO’s financial background affecting the development of corporate financialization is researehed in this paper. The results of the study found that the CEO’s financial background can promote corporate financialization. Expansion research found that the CEO’s financial background promotes corporate financialization more prominently in dual-employment and nationalized companies. The theoretical and empirical research on the financialization of enterprises is enriched, which can help promote enterprises to make reasonable financial-related decisions, and provide effective enlightenment for the effective construction of enterprise management.
作者
马云飞
朱家明
丁怡帆
Ma Yunfei;Zhu Jiaming;Ding Yifan(Anhui University of Finance and Economics)
出处
《哈尔滨师范大学自然科学学报》
CAS
2021年第3期40-51,共12页
Natural Science Journal of Harbin Normal University
基金
国家自然科学基金项目“自然资源资产与经济增长、经济安全的协调机制与策略研究”(71934001)
安徽省教育科研项目“大数据背景下学科竞赛对新经管人才创新能力培养研究”(2018jyxm1305)
安徽财经大学重点科研基金项目“董事长的海外背景可以提高企业国际化程度吗——基于融资约束视角”(XSKY2111ZD)。
关键词
金融背景
企业金融化
高阶梯队理论
烙印机制
Financial background
Corporate financialization
High-level team theory
Branding mechanism
