上市公司利益相关者对公司绩效影响的实证研究

发布时间：2018-05-30 14:25

本文选题：上市公司 + 利益相关者　；参考：《沈阳理工大学》2012年硕士论文

【摘要】：近些年来，公司理财目标逐步从以股东至上主义为基础的股东财富最大化转化为以利益相关者理论为基础的公司财富最大化，利益相关者的理论被学术界所接受，但在实践层面却未得到广泛应用。有鉴于此，本文围绕利益相关者的公司绩效最大化问题展开研究，以利益相关者理论、契约理论、信号传递理论等为指导，以规范研究和实证检验相结合的方法，对利益相关者满意度与公司绩效之间的相关性进行检验。本文的研究对于揭示利益相关者与公司绩效之间的关系，指导公司经营管理的实践，从理论上和实践上都有很重要的意义。首先，本文系统总结了国内外利益相关者与公司绩效之间关系的相关研究现状，在此基础上将利益相关者理论、公司绩效论及其他相关理论进行了融合，形成本文的理论基础。以契约理论为支撑，陈述本文选取利益相关者满意度为研究视角的原因，为利益相关者与公司绩效之间关系的研究寻找到切入点，为下面的论述做了铺垫。其次，本文对利益相关者影响公司绩效的机理进行了理论分析。本文分析利益相关者在公司绩效提高中的地位和作用，论述他们最关注的东西和对公司的利益诉求。分析公司满足了利益相关者的要求和没有满足利益相关者的要求时，利益相关者行为有哪些不同，结合利益相关者在公司绩效提升过程中的作用，，分析不同的行为对公司绩效的影响，形成利益相关者影响公司绩效的机理。最后，本文选取了代表利益相关者满意度的衡量指标和公司绩效衡量指标，选取了利益相关者满意度与公司绩效之间关系的回归分析模型。通过筛选，选取出536家上市公司为样本，运用统计软件SPSS17.0，对利益相关者的满意度与公司绩效之间的关系进行检验。实证结果基本上证实了本文的理论假设，利益相关者的满意度越高，其为公司的投入越多，公司绩效越高。
[Abstract]:In recent years, the goal of corporate financial management has gradually changed from shareholder wealth maximization based on shareholder supremacy to corporate wealth maximization based on stakeholder theory, and stakeholder theory has been accepted by academic circles. However, it has not been widely used in practice. In view of this, this paper focuses on the issue of corporate performance maximization of stakeholders, guided by stakeholder theory, contract theory, signaling theory, and the combination of normative research and empirical testing. The correlation between stakeholder satisfaction and corporate performance is tested. The research in this paper is of great significance both in theory and practice to reveal the relationship between stakeholders and corporate performance and to guide the practice of company management. First of all, this paper systematically summarizes the domestic and foreign stakeholders and corporate performance of the relationship between the relevant research status, on the basis of stakeholder theory, corporate performance and other related theories are integrated to form the theoretical basis of this paper. Based on the contract theory, this paper states the reasons of choosing stakeholder satisfaction as the research angle, finding a breakthrough point for the study of the relationship between stakeholders and corporate performance, and laying the groundwork for the following discussion. Secondly, this paper makes a theoretical analysis on the mechanism of stakeholders' influence on corporate performance. This paper analyzes the position and role of stakeholders in the improvement of corporate performance and discusses what they are most concerned about and the interests of the company. When the company meets the requirements of the stakeholders and does not meet the requirements of the stakeholders, what are the different behaviors of the stakeholders and the role of the stakeholders in the process of improving the performance of the company? This paper analyzes the influence of different behaviors on corporate performance and forms the mechanism of stakeholders influencing corporate performance. Finally, this paper selects the representative stakeholder satisfaction measurement index and corporate performance measurement index, and selects the regression model of the relationship between stakeholder satisfaction and corporate performance. Through screening, 536 listed companies were selected as samples, and SPSS 17.0 was used to test the relationship between stakeholder satisfaction and corporate performance. The empirical results basically confirm the theoretical hypothesis that the higher the satisfaction of stakeholders, the higher the corporate performance.
【学位授予单位】：沈阳理工大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F275;F832.51;F224

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