经理人参军经历对企业财务舞弊的影响研究
发布时间：2018-07-15 10:39
【摘要】：学术界以往大多都是从董事会特征、机构投资者、公司治理机制等角度来展开对上市公司财务舞弊的研究,然而从管理层个体特征及其他特质间差异的角度出发研究企业财务舞弊的学术成果还是比较匮乏。然而高层阶梯理论认为公司经理人在制定一项政策时,不仅收到公司内外部环境的影响,还受经理人个人特质的影响。所以本文试图将行为经济学相关理论与高层阶梯理论相结合,在行为经济学的基础上,从经理人参军经历这个特殊角度切入研究企业财务舞弊,分析经理人个人特质(参军经历)是否会对企业财务舞弊行为的发生产生影响?在我国,由于军人在社会中具有特殊的地位,所以其一言一行一直备受瞩目。所以本文将其定为研究对象,选取2001年-2013年期间因财务舞弊而受到证监会处罚的上市公司为研究样本,采用多元线性回归方法,研究了经理人参军经历对企业财务舞弊的影响,力求证明经理人的参军经历对企业财务舞弊会产生显著影响,最终得出主要结论:(1)经理人参军经历对财务舞弊作用不显著或者正显著,并未发现有参军经历降低了违规可能性的证据;但是参军经历能够有效降低舞弊手段之一的违规资金应用的可能性。(2)无论是在国有控股上市公司还是非国有控股上市公司中,军队经历对财务舞弊都没有显著的约束作用。而且在全样本国有企业Panel数据模型中,从军经历与财务舞弊的为显著正相关关系,这表明参军经历增加了财务舞弊的可能性。(3)在竞争程度高的行业中,经理人参军经历与财务舞弊、一般会计问题、违规资金使用等有显著的负相关关系,这表明在高竞争行业中,从军经历主要降低了财务舞弊、一般会计问题和违规资金使用的可能性。本文为经理人个人特质对企业财务舞弊影响的研究领域增添了一篇学术成果,并且财务舞弊的研究视角也被拓宽了。本文基于“有限理性人”假设,以经理人参军经历为立足点,对公司财务舞弊行为进行研究,将行为经济学、高层阶梯理论与财务舞弊结合起来,突破了传统经济学下“理性人”的假设,和现实情形更加贴近切合,并且丰富了企业财务舞弊和行为经济学领域的相关研究。
[Abstract]:In the past, most of the academic circles studied the financial fraud of listed companies from the perspectives of board characteristics, institutional investors, corporate governance mechanisms, etc. However, from the perspective of the differences between individual characteristics and other characteristics of management, the academic results of financial fraud are still relatively scarce. However, the high-level ladder theory holds that the managers are influenced not only by the internal and external environment, but also by the personal characteristics of the managers when making a policy. Therefore, this paper attempts to combine the theory of behavioral economics with the theory of high-level ladder, on the basis of behavioral economics, from the special perspective of managers' experience in the military, to study corporate financial fraud. Analysis of the personal characteristics of managers (military experience) will have an impact on the occurrence of corporate financial fraud? In our country, because the soldier has a special position in the society, its words and deeds have been paid attention to all the time. So this paper takes it as the research object, selects the listed companies that were punished by the CSRC from 2001 to 2013 as the research sample, uses the multivariate linear regression method, studies the influence of the managers' joining the army experience on the enterprise financial fraud. This paper tries to prove that managers' experience of joining the army has a significant impact on financial fraud of enterprises, and finally draws the following conclusions: (1) the effect of managers' military experience on financial fraud is not significant or is significant. No evidence has been found that joining the army reduces the possibility of violating the law; however, the experience of joining the army can effectively reduce the possibility of the application of illegal funds, one of the means of fraud. (2) whether in state-owned or non-state-controlled listed companies, Military experience has no significant constraint on financial fraud. Moreover, in the Panel data model of the whole sample of state-owned enterprises, there is a significant positive correlation between military experience and financial fraud, which indicates that military experience increases the possibility of financial fraud. (3) in highly competitive industries, The experience of managers in the army has a significant negative correlation with financial fraud, general accounting problems, illegal use of funds, etc., which indicates that in highly competitive industries, military experience mainly reduces financial fraud. General accounting problems and the possibility of illegal use of funds. This paper adds an academic achievement to the research field of the influence of personal characteristics of managers on corporate financial fraud, and the research perspective of financial fraud has also been broadened. Based on the hypothesis of "limited rational person" and the experience of managers joining the army, this paper studies corporate financial fraud, combining behavioral economics, high-level ladder theory and financial fraud. It breaks through the hypothesis of "rational man" in traditional economics, and is closer to the reality, and enriches the related research in the field of corporate financial fraud and behavioral economics.
【学位授予单位】：广东外语外贸大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F832.51;F272.91
本文编号：2123795
[Abstract]:In the past, most of the academic circles studied the financial fraud of listed companies from the perspectives of board characteristics, institutional investors, corporate governance mechanisms, etc. However, from the perspective of the differences between individual characteristics and other characteristics of management, the academic results of financial fraud are still relatively scarce. However, the high-level ladder theory holds that the managers are influenced not only by the internal and external environment, but also by the personal characteristics of the managers when making a policy. Therefore, this paper attempts to combine the theory of behavioral economics with the theory of high-level ladder, on the basis of behavioral economics, from the special perspective of managers' experience in the military, to study corporate financial fraud. Analysis of the personal characteristics of managers (military experience) will have an impact on the occurrence of corporate financial fraud? In our country, because the soldier has a special position in the society, its words and deeds have been paid attention to all the time. So this paper takes it as the research object, selects the listed companies that were punished by the CSRC from 2001 to 2013 as the research sample, uses the multivariate linear regression method, studies the influence of the managers' joining the army experience on the enterprise financial fraud. This paper tries to prove that managers' experience of joining the army has a significant impact on financial fraud of enterprises, and finally draws the following conclusions: (1) the effect of managers' military experience on financial fraud is not significant or is significant. No evidence has been found that joining the army reduces the possibility of violating the law; however, the experience of joining the army can effectively reduce the possibility of the application of illegal funds, one of the means of fraud. (2) whether in state-owned or non-state-controlled listed companies, Military experience has no significant constraint on financial fraud. Moreover, in the Panel data model of the whole sample of state-owned enterprises, there is a significant positive correlation between military experience and financial fraud, which indicates that military experience increases the possibility of financial fraud. (3) in highly competitive industries, The experience of managers in the army has a significant negative correlation with financial fraud, general accounting problems, illegal use of funds, etc., which indicates that in highly competitive industries, military experience mainly reduces financial fraud. General accounting problems and the possibility of illegal use of funds. This paper adds an academic achievement to the research field of the influence of personal characteristics of managers on corporate financial fraud, and the research perspective of financial fraud has also been broadened. Based on the hypothesis of "limited rational person" and the experience of managers joining the army, this paper studies corporate financial fraud, combining behavioral economics, high-level ladder theory and financial fraud. It breaks through the hypothesis of "rational man" in traditional economics, and is closer to the reality, and enriches the related research in the field of corporate financial fraud and behavioral economics.
【学位授予单位】：广东外语外贸大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F832.51;F272.91
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