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CEO自由裁量权与实体企业金融化:加剧还是抑制
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作者 李旭思 芮雪琴 《武汉金融》 北大核心 2022年第1期16-24,共9页
自由裁量权作为管理者决策的重要基础,是企业金融资源配置的调控手段。本文基于代理理论和管家理论,以2012—2019年沪深A股非金融上市公司为研究样本,考察了CEO自由裁量权对企业金融化的影响及其作用机制。研究表明,管家理论在我国实体... 自由裁量权作为管理者决策的重要基础,是企业金融资源配置的调控手段。本文基于代理理论和管家理论,以2012—2019年沪深A股非金融上市公司为研究样本,考察了CEO自由裁量权对企业金融化的影响及其作用机制。研究表明,管家理论在我国实体企业中具有适用性,CEO自由裁量权与企业金融化呈现显著负相关关系,实业投资及股东社会责任在这一关系中具有部分中介效应。进一步研究发现,CEO自由裁量权对企业金融化水平的负向影响在过度金融化、代理成本高及融资约束低的企业中更显著。本文从管理层权力的视角拓展了企业金融化的相关研究,同时也为引导企业管理者树立正确的价值理念,采用权力机制治理过度金融化和防控金融风险提供了参考。 展开更多
关键词 CEO自由裁量权 企业金融化 实业投资 股东社会责任
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University Social Responsibility from the Perspective of the Different Stakeholders
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作者 JoséJavier Buenano Cabrera Betzabédel Rosario Maldonado Mera Karla Viviana Benavides Espinosa 《Journal of Modern Accounting and Auditing》 2018年第4期220-230,共11页
The objective of this research is to analyze social responsibility from the stakeholder’s perspective to establish whether universities have advanced in their conception. The research is exploratory and conclusive de... The objective of this research is to analyze social responsibility from the stakeholder’s perspective to establish whether universities have advanced in their conception. The research is exploratory and conclusive descriptive of the cross-sectional sample. The internal and external stakeholders of the public universities domiciled in Quito were taken into account. The results showed that university managers relate this concept with actions of connection with community, the relevance of the academic offer and the accountability, while students relate this concept with teaching in values and philanthropic activities. For administrative personnel instead, university social responsibility (USR) is related to work benefits. On the other hand, the business sector relates this concept with the answer to their needs of innovation. As expected, representatives of government agencies highlight the university’s responses that are necessary to become the engine of economic, productive and social transformation of the country. It is concluded that USR is applied in a partial way, which translates into management models that do not incorporate it as an explicit variable of their actions. 展开更多
关键词 university social responsibility accounts surrender STAKEHOLDERS
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