财务共享服务中心对企业风险承担能力的影响——基于三阶段DEA模型的实证研究

The Impact of Financial Shared Service Centers on the Risk-taking Capacity of Enterprise——An Empirical Study Based on a Three-Stage DEA Model

尽管相关实践调研表明财务共享服务中心有助于增强企业风险承担能力,但理论上尚未进行验证。本文选取已建立财务共享服务中心的27家样本企业为研究对象,运用三阶段DEA模型对企业财务共享服务中心建设水平与企业风险承担能力之间的关系进行实证研究。结果发现:环境因素对企业风险承担能力存在显著影响,国有企业的风险承担能力相对更强,企业年龄有利于增强风险承担能力;控股股东持股比例和GDP增长率会降低风险承担能力;财务共享服务中心建设水平对企业的风险承担能力有一定影响,中心建设水平越高,其对企业风险承担能力的影响越显著。

The practical evidence show that Financial Shared Service Center can help enhance the risk-taking capacity of enterprise, which however has not been examined by theoretical studies yet. Therefore, this study applied a three-stage DEA model to empirically explore the relationship between the level of construction of Financial Shared Service Center and the risk-taking capability of enterprises, with a sample of 27 enterprises that have established shared service centers. The results show that environmental factors significantly affect the risk-taking capacity of enterprises. Enterprises that are state-owned or older have a stronger risk-taking capacity. The percentage of controlling shareholders’ shareholding and GDP growth rate reduce risk-taking capacity. Conclusively, the level of construction of Financial Shared Service Center positively influences the risk-taking capacity of enterprises.