基于盈余管理视角下的高管团队社会资本对公司特质风险的影响研究  

Research on the Influence of Executive Team Social Capital on Idiosyncratic Risk from the Perspective of Earnings Management

作　　者：吴臻 花冯涛[1] 朱守梅 Wu Zhen;Hua Feng-tao;Zhu Shou-mei(Anhui Normal University,Wuhu Anhui 241000,China)

机构地区：[1]安徽师范大学经济管理学院,安徽芜湖241000

出　　处：《铜陵学院学报》2020年第3期44-49,共6页Journal of Tongling University

基　　金：国家社科基金青年项目“基于信息不确定性视角下的中国股票市场公司特质风险研究”(13CGL026)。

摘　　要：文章将社会资本理论融入到高管团队中进行研究,通过构建一套包括政治社会资本、学术社会资本和海外社会资本三项指标的高管团队社会资本衡量体系,全面测量了高管团队的社会资本,检验了高管团队社会资本与公司特质风险的关系,结果表明:高管团队社会资本对公司特质风险有显著抑制作用,并且在负向盈余管理调节下,高管团队社会资本对公司特质风险的影响更加显著。研究验证了高管团队社会资本作为一种非正式制度在公司治理中的重要性,充分展示了高管团队社会资本对公司未来发展具有重大影响。This paper integrates the theory of social capital into the senior management team to carry on the research.By means of the construction of a set of social capital measurement system of senior management team,political social capital,academic social capital and overseas social capital included,the social capital of the executive team is comprehensively measured.Obviously it examines the relationship between the social capital of the executive team and idiosyncratic risk.Besides,the results show that the social capital of the senior management team significantly inhibits idiosyncratic risk to some degree.In addition,in the direction of negative earnings management,social capital has a more significant effect on idio-syncratic risk.The research in this paper is a form of verifying the importance of the social capital of the senior management team as an informal system in corporate governance.Furthermore,the personal characteristics of the executives make a big difference to the future development of the company.

关 键 词：高管团队社会资本 盈余管理 公司特质风险 

分 类 号：F272[经济管理—企业管理]