高管团队异质性、企业社会责任信息披露与财务绩效

发布时间：2018-05-23 16:39

本文选题：高管团队 + 异质性　；参考：《中国矿业大学》2017年硕士论文

【摘要】：传统观念认为承担社会责任会增加企业的成本、降低企业的经济效益,但随着学者研究的不断深入,以及人们对于环境恶化、社会矛盾的关注度不断增加,越来越多的企业开始意识到,承担社会责任不仅仅是社会的需求,也是塑造企业形象、扩大企业影响、获取社会支持以及开拓企业竞争力的有效途径。与此同时,在经历过经济危机、产业转型升级等各种市场事件之后,企业也开始意识到人力资源的重要性,尤其是高管团队的建设与企业的发展密不可分。因此,本文将从高管团队异质性、企业社会责任信息披露这二者对财务绩效的影响入手进行研究,以达到促进企业社会责任信息披露、规范企业社会责任行为的目的,并为企业加强高管团队建设提供依据和建议。本文首先系统地梳理了企业社会责任信息披露影响因素与经济后果,高管团队异质性划分维度,企业社会责任信息披露、高管团队异质性和财务绩效三者之间关系等方面的研究文献,以信息不对称理论、高阶理论、社会资本理论、信息决策理论以及信号传递理论为理论基础,以2012-2014连续三年进行企业社会责任信息披露的A股主板上市公司为研究样本,确定了465组有效观察值,从年龄、性别、任期、教育水平、专业背景以及社会资本六个维度区分高管团队的异质性,采用规范研究与实证研究相结合的方法,构建了高管团队异质性、社会责任信息披露与财务绩效关系的理论模型,通过多元回归分析等方法实证检验高管团队异质性对企业社会责任信息披露和财务绩效的影响、企业社会责任信息披露对财务绩效的影响、企业社会责任信息披露在高管团队异质性和财务绩效之间的调节作用。研究发现:(1)高管团队年龄、教育水平以及学科背景异质性对企业社会责任信息披露水平有显著正向影响;(2)高管团队任期、教育水平以及学科背景异质性对财务绩效有显著正向影响;(3)企业社会责任信息披露水平对财务绩效有正向影响,并且利于增强高管团队异质性对财务绩效的正向影响程度,起到调节作用;(4)主动进行社会责任信息披露的企业,其高管团队性别和任期异质性对企业财务绩效的正向作用更加强烈。
[Abstract]:The traditional idea holds that taking social responsibility will increase the cost of the enterprise and reduce the economic benefit of the enterprise. However, with the continuous deepening of the scholars' research and the increasing attention to the environmental deterioration and the social contradictions, more and more enterprises are beginning to realize that the social responsibility is not only the demand of the society, but also the shape of the enterprise. At the same time, after a variety of market events such as economic crisis, industrial transformation and upgrading, enterprises are beginning to realize the importance of human resources, especially the construction of the top management team and the development of the enterprise. In order to promote the disclosure of corporate social responsibility, the purpose of standardizing corporate social responsibility behavior, and providing the basis and suggestion for the enterprise to strengthen the construction of the top management team, this paper first systematically combed the corporate social responsibility letter. The two subjects of corporate social responsibility information disclosure are studied in order to promote the disclosure of corporate social responsibility information and standardize the corporate social responsibility. The research literature on the influencing factors and economic consequences of interest disclosure, the dimension of the heterogeneity of the executive team, the disclosure of corporate social responsibility information, the relationship between the heterogeneity of executive team and the financial performance of the three parties, is based on the theory of information asymmetry, higher order theory, social capital theory, the theory of information and interest decision and the theory of signal transmission. 2012-2014 A shares listed companies of corporate social responsibility information disclosure for three years for the study sample, determine 465 groups of effective observation values, from age, sex, term of office, education level, professional background and social capital to distinguish the heterogeneity of senior management team, and adopt the method of combining normative research and empirical research. The theoretical model of the relationship between executive team heterogeneity, social responsibility information disclosure and financial performance, the impact of executive team heterogeneity on corporate social responsibility information disclosure and financial performance through multiple regression analysis, the impact of corporate social responsibility information disclosure on financial performance, and the disclosure of corporate social responsibility information The study found that: (1) senior management team age, education level and subject background heterogeneity have significant positive impact on the level of corporate social responsibility information disclosure; (2) executive team tenure, education level and subject background heterogeneity have a significant positive impact on financial performance; (3) enterprises (3) The level of information disclosure of CSR has a positive impact on financial performance, and it also helps to enhance the positive impact of executive team heterogeneity on financial performance, and (4) enterprises with active social responsibility information disclosure have a stronger positive effect on corporate financial performance by their senior executive team gender and tenure quality.
【学位授予单位】：中国矿业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F270;F275;F272.91

【参考文献】