核心高管参军经历对企业风险承担的影响
发布时间：2019-04-19 12:49
【摘要】：本文利用2010~2015年间中国上市公司数据,分析核心高管的参军经历对企业风险承担的影响。实证结果发现,具有参军经历的核心高管在决策中更加激进,企业聘请参军经历核心高管可以提升经营业绩、增加企业风险承担水平,这种现象更容易发生在竞争性行业企业,在非竞争性行业企业中并不明显。进一步研究发现,具有参军经历的创始人在风险选择中却更加保守,在保持业绩增长的同时会寻求降低业绩波动性。
[Abstract]:Based on the data of listed companies in China from 2010 to 2015, this paper analyzes the impact of core senior executives' experience of joining the army on their risk-taking. The empirical results show that core executives with military participation experience are more aggressive in decision-making, and enterprises employing core senior executives with military participation experience can improve business performance and increase the level of enterprise risk taking. This phenomenon is more likely to occur in competitive industry enterprises. In the non-competitive industry enterprises are not obvious. Further research found that founders with military experience were more conservative in their risk choices, seeking to reduce volatility while maintaining growth.
【作者单位】： 招商局集团博士后科研工作站;
【基金】：国家社科基金青年项目:基于中国经验的包容性发展理论研究(16CJL018)
【分类号】：F272.3;F272.91
[Abstract]:Based on the data of listed companies in China from 2010 to 2015, this paper analyzes the impact of core senior executives' experience of joining the army on their risk-taking. The empirical results show that core executives with military participation experience are more aggressive in decision-making, and enterprises employing core senior executives with military participation experience can improve business performance and increase the level of enterprise risk taking. This phenomenon is more likely to occur in competitive industry enterprises. In the non-competitive industry enterprises are not obvious. Further research found that founders with military experience were more conservative in their risk choices, seeking to reduce volatility while maintaining growth.
【作者单位】： 招商局集团博士后科研工作站;
【基金】：国家社科基金青年项目:基于中国经验的包容性发展理论研究(16CJL018)
【分类号】：F272.3;F272.91
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