管理者过度自信对公司业绩:好事还是坏事?——基于会计稳健性视角的经验证据  

Is Managerial Overconfidence Good or Bad for Corporate Performance? Evidence from the Perspective of Accounting Conservatism

作　　者：罗劲博[1] 

机构地区：[1]厦门大学管理学院,福建厦门361005

出　　处：《财经研究》2014年第1期135-144,共10页Journal of Finance and Economics

基　　金：教育部人文社会科学研究重点基地重大项目(12JJD790030);国家自然科学基金青年项目(71202061)

摘　　要：文章研究了管理者过度自信对会计稳健性的影响,并分析了会计稳健性在管理者过度自信与公司业绩之间的调节效应,以及此调节效应在盈利或亏损企业间的差异。结果表明:公司管理者的过度自信对会计稳健性有显著的负面影响;会计稳健性在管理者过度自信与公司业绩之间发挥了一定的调节作用;在亏损企业该调节作用提高了公司业绩,而在盈利企业则恶化了公司业绩。This paper studies the effect of managerial overconfidence on accounting conservatism and analyzes the moderating effect of accounting conservatism on the relationship between managerial overconfidence and corporate performance and the differences of this moderating effect between profita- ble enterprises and ones suffering losses. It arrives at the following conclusions： firstly, managerial o- verconfidence has significantly negative impact on accounting conservatism;secondly, accounting con- servatism plays a moderating role in the relationship between managerial overconfidence and corporate performance to some extent; in enterprises suffering losses, this moderating role improves corporate performance,while in profitable enterprises it worsens corporate performance.

关 键 词：管理者过度自信 净资产账面市值稳健 累计应计稳健 调节效应 

分 类 号：F275[经济管理—企业管理] F230[经济管理—国民经济]