管理者过度自信、控股股东股权质押与社会责任履行  

Overconfidence of managers, pledge of controlling shareholders’ equity and fulfillment of social responsibilities

作　　者：冯旭日[1] 傅庆隆 FENG Xuri;FU Qinglong(School of Business Administration,Liaoning Technical University,Huludao 125105,China)

机构地区：[1]辽宁工程技术大学工商管理学院,辽宁葫芦岛125105

出　　处：《辽宁工程技术大学学报（社会科学版）》2022年第1期10-18,共9页Journal of Liaoning Technical University(Social Science Edition)

摘　　要：基于管理者过度自信理论,从行为金融学视角,采用实证研究的方法,以2010-2018年A股上市公司为研究样本,对管理者过度自信、控股股东股权质押与社会责任履行进行分析,结果表明:管理者过度自信不利于企业履行社会责任,二者之间呈负相关关系;管理者过度自信对控股股东的股权质押行为有显著促进作用;控股股东股权质押在管理者过度自信与企业社会责任履行之间起到部分中介作用。Based on the theory of manager’s overconfidence,from the perspective of behavioral finance,using empirical research methods,taking A-share listed companies from 2010 to 2018 as the research sample,the manager’s overconfidence,the pledge of controlling shareholders’equity and the fulfillment of social responsibilities are analyzed.The results show that:managers’overconfidence is not conducive to corporate social responsibility,and there is a negative correlation between the two;managers’overconfidence has a significant role in promoting the controlling shareholder’s equity pledge behavior;controlling shareholders’equity pledge plays a partial intermediary role between managers’overconfidence and the performance of corporate social responsibility.

关 键 词：管理者过度自信 股权质押 社会责任履行 

分 类 号：F272.91[经济管理—企业管理] F832.51[经济管理—国民经济]