具有高管背景的独董与关联交易:监督抑或协作——来自上市公司的经验证据
发布时间：2018-10-13 14:07
【摘要】：利用2007-2010年沪深两市上市公司数据,考察具有高管背景的独立董事对上市公司关联交易的影响。研究发现具有高管背景的独立董事越多,上市公司关联交易程度越强。考虑了终极控制人因素发现,国有上市公司中具有高管背景的独立董事数量与管理交易程度并没有显著的相关关系,而在民营上市公司中,具有高管背景的独立董事数量与上市公司关联交易程度显著正相关,且在分析中发现民营上市公司进行关联交易的目的是增加商业信用,缓解公司的融资约束。
[Abstract]:Based on the data of listed companies in Shanghai and Shenzhen stock markets from 2007 to 2010, this paper investigates the influence of independent directors with executive background on affiliated transactions of listed companies. The study found that the more independent directors with executive background, the stronger the degree of related transactions of listed companies. Considering the ultimate controller factor, it is found that there is no significant correlation between the number of independent directors with executive background and the degree of management transaction in state-owned listed companies, but in private listed companies, The number of independent directors with executive background is significantly positively correlated with the degree of related party transactions of listed companies, and it is found that the purpose of affiliated transactions of private listed companies is to increase the commercial credit and ease the financing constraints of the companies.
【作者单位】： 中南财经政法大学;福建江夏学院;
【基金】：福建省社会科学基金项目(项目编号:2012B027) 福建省教育厅重点项目(项目编号JA12328S)
【分类号】：F832.51;F276.6;F224
本文编号：2268907
[Abstract]:Based on the data of listed companies in Shanghai and Shenzhen stock markets from 2007 to 2010, this paper investigates the influence of independent directors with executive background on affiliated transactions of listed companies. The study found that the more independent directors with executive background, the stronger the degree of related transactions of listed companies. Considering the ultimate controller factor, it is found that there is no significant correlation between the number of independent directors with executive background and the degree of management transaction in state-owned listed companies, but in private listed companies, The number of independent directors with executive background is significantly positively correlated with the degree of related party transactions of listed companies, and it is found that the purpose of affiliated transactions of private listed companies is to increase the commercial credit and ease the financing constraints of the companies.
【作者单位】： 中南财经政法大学;福建江夏学院;
【基金】：福建省社会科学基金项目(项目编号:2012B027) 福建省教育厅重点项目(项目编号JA12328S)
【分类号】：F832.51;F276.6;F224
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