权变因素、ERM目标与企业绩效研究——基于中央企业数据的实证分析  

Research on Contingency Factors,ERM Objectives and Business Performance Based on Empirical Analysis of State-owned Enterprises

作　　者：刘红霞[1] 刘晓川[1] 

机构地区：[1]中央财经大学会计学院,北京100081

出　　处：《北京工商大学学报（社会科学版）》2012年第1期57-62,共6页JOURNAL OF BEIJING TECHNOLOGY AND BUSINESS UNIVERSITY:SOCIAL SCIENCES

基　　金：教育部人文社会科学基金项目(09YJA790201);北京市哲学社会科学规划项目(11JGB090)

摘　　要：选用A股205家央企上市公司截面数据,对权变因素、ERM目标和企业绩效之间的关系进行了理论和实证分析。研究发现,权变因素对于ERM目标有着明显影响,企业在ERM目标设定方式上存在着很大差异,从而导致绩效水平产生巨大差异。企业应该在充分考虑权变因素影响的基础上设定ERM目标,通过有效防控风险,提升企业绩效。Based on the panel data of 205 State-owned Enterprises（SOEs） in A-share market,this paper makes both theoretical and empirical analyses on the relationship among contingency factors,ERM objectives and business performance.The research shows that contingency factors have a significant influence on ERM objectives,and that there are great differences in the way enterprises set their ERM objectives,which results in huge differences in performance levels.Therefore,enterprises should consider setting their ERM objectives based on the impact of contingency factors and improve the business performance by effectively preventing and controlling the risks.

关 键 词：权变因素 ERM目标 企业绩效 

分 类 号：F270.3[经济管理—企业管理]