公司战略、产权性质与风险承担

发布时间：2018-05-17 17:42

本文选题：公司战略 + 产权性质　；参考：《中南财经政法大学学报》2017年05期

【摘要】：本文基于沪深A股上市公司2007~2014年的样本,考察公司战略对风险承担的影响,研究发现:公司战略对风险承担具有显著的影响,相对于实施防御型战略的公司,实施进攻型战略的公司的风险承担水平显著较高;国有产权性质在此影响中存在负向调节效应;中央国有企业战略对风险承担的影响并不显著。进一步研究发现:金字塔结构层级的延长可有效抑制国有产权性质的负向调节效应,但该效果对中央国有企业并不显著;且当层级过度冗长时,国有企业金字塔结构的上述效果亦不显著。
[Abstract]:Based on the samples of Shanghai and Shenzhen A-share listed companies from 2007 to 2014, this paper examines the impact of company strategy on risk taking, and finds that: corporate strategy has a significant impact on risk assumption, compared with the implementation of defensive strategy of the company, The risk bearing level of the company implementing the offensive strategy is significantly higher; the nature of the state-owned property right has the negative adjustment effect in this influence; the influence of the strategy of the central state-owned enterprise on the risk bearing is not significant. Further study shows that the extension of pyramid structure can effectively restrain the negative regulation effect of state-owned property rights, but this effect is not significant for central state-owned enterprises, and when the hierarchy is too long, The above-mentioned effect of pyramid structure of state-owned enterprises is not remarkable.
【作者单位】：东北财经大学会计学院/中国内部控制研究中心;
【基金】：国家自然科学基金面上项目“会计准则变革的非预期效应:对经营方式转变及投资行为的影响研究”(71372068) 国家社会科学基金项目“构建基于绿色发展理念的企业环境管理控制系统研究”(17BGL070)
【分类号】：F271;F272;F272.3

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