[1]李惠蓉,张腾.女性高管、过度投资对公司价值的影响[J].常州大学学报(社会科学版),2017,18(03):52-58.[doi:10.3969/j.issn.2095-042X.2017.03.009]
 Li Huirong,Zhang Teng.Influence of Female Executives and Over-investment on Corporate Value[J].Journal of Changzhou University(Social Science Edition),2017,18(03):52-58.[doi:10.3969/j.issn.2095-042X.2017.03.009]
点击复制

女性高管、过度投资对公司价值的影响()
分享到:

常州大学学报(社会科学版)[ISSN:2095-042X/CN:32-1821/C]

卷:
第18卷
期数:
2017年03期
页码:
52-58
栏目:
经济·管理学研究
出版日期:
2017-06-10

文章信息/Info

Title:
Influence of Female Executives and Over-investment on Corporate Value
作者:
李惠蓉张腾
Author(s):
Li HuirongZhang Teng
关键词:
女性高管 过度投资 公司价值
Keywords:
female executives over-investment corporate value
分类号:
F270
DOI:
10.3969/j.issn.2095-042X.2017.03.009
摘要:
以2011—2015年制造业上市公司为样本,实证检验了女性高管对过度投资和公司价值之间的关系产生的影响。研究结果表明,女性高管比例对过度投资与公司价值之间的关系具有正向的调节效应,通过提高女性参与高管团队的比例可以提升公司治理水平。
Abstract:
Taking listed manufacturing companies from 2011 to 2015 as samples, influence of female executives on the relationship between over-investment and corporate value is empirically tested. The result demonstrates that the percentage of female executives can positively regulate the relationship between over-investment and corporate value and the increase of the percentage of female executives can enhance the cooperation management.

参考文献/References:

[1]中国36%管理职位有女性担任比例高于亚洲平均水平[EB/OL].(2015-08-16)
[2016-12-30].http://finance.people.com.cn/n/2015/0316/c1004-26697143.html.
[2]GUL F A,SRINIDHI B,NG A C.Does board gender diversity improve the informativeness of stock price[J].Journal of Accounting and Economics,2011,51(3):314-338.
[3]ADAMS B R,FERRIRA D.Women in the boardroom and their impact on governance and performance[J].Journal of Financial Economics,2009,94(2):291-309.
[4]DWEYER S,RICHARD O C,CHADWIC K.Gender diversity in management and performance:the influence of growth orientation and organizational culture[J].Journal of Business Research,2003,56(12):1001-1019.
[5]叶蓓,袁建国.管理者信心、企业投资价值与企业价值:基于我国上市公司的经验证据[J].中国软科学,2008(2):97-108.
[6]黄荷暑,周泽将.女性高管、信任环境与企业社会责任信息披露——基于自愿披露社会责任报告A股上市公司的经验证据[J].审计与经济研究,2015,30(4):31-39.
[7]辛清泉,林斌,王彦超.政府控制、经理薪酬与资本投资[J].经济研究,2007(8):110-122.
[8]蒋东升.过度投资与企业价值[J].管理世界,2011(1):174-175.
[9]周泽将,刘文惠,刘中燕.女性高管对公司财务行为与公司价值的研究述评[J].外国经济与管理,2012,34(2):73-80.
[10]刘红霞,索玲玲.会计稳健性、投资效率与企业价值[J].审计与经济研究,2011,26(5):53-63.
[11]FRANCOEUR C,LABELLE R.Gender diversity in corporate governance and top management[J].Journal of Business Ethics,2008,81(1):83-95.
[12]任颋,王峥.女性参与高管团队对企业绩效的影响:基于中国民营企业的实证研究[J].南开管理评论,2010,13(5):81-91.
[13]李小荣,刘行.CEO VS CFO:性别与股价崩盘风险[J].世界经济,2012(12):103-129.
[14]ARLOW P.Personal characteristics in college students evaluations of business ethics and corporate social responsibility[J].Journal of Business Ethics,1991,10(1):63-69.
[15]Nielsen S,Huse M.The contribution of women on boards of directors:going beyond the surface[J].Corporate Governance:An International Review,2010(18):136-148.
[16]Richardson A S.Overinvestment of free cash flow[J].Review of Accounting Studies,2006(11):159-189.
[17]詹雷,王瑶瑶.管理层激励、过度投资与企业价值[J].南开管理评论,2013,16(3):36-46.

备注/Memo

备注/Memo:
作者简介:李惠蓉,常州大学怀德学院副教授; 张腾,常州大学商学院硕士研究生。
基金项目:江苏省社会科学基金一般项目“城乡一体化背景下江苏省基本公共卫生服务均等化问题研究”(16SHC007)。
更新日期/Last Update: 2017-06-10