CEO职业经历多样性、过度自信与企业财务风险  

CEO Career Experience Diversity,Overconfidence and Corporate Financial Risk

作　　者：刘明霞[1] 贺家乐 LIU Ming-xia;HE Jia-le(School of Economics and Management,Wuhan University,Wuhan 430072,China)

机构地区：[1]武汉大学经济与管理学院,武汉430072

出　　处：《哈尔滨商业大学学报（社会科学版）》2022年第2期71-84,共14页Journal of Harbin University of Commerce:Social Science Edition

基　　金：教育部人文社会科学研究项目“创新集群中组织间初次知识合作共享的信任研究:间接信任视角”(15YJA630041)。

摘　　要：如何应对CEO过度自信引发的企业财务风险是企业迫切需要解决的问题。从切断CEO过度自信“污染源”出发,基于高阶理论和社会认知理论,对CEO职业经历多样性、过度自信与企业财务风险之间的关系进行实证研究。研究发现,职业经历越丰富的CEO越不容易过度自信,CEO任职企业、行业的多样性在该效应中发挥主要影响。进一步研究发现,CEO过度自信会提升企业财务风险,CEO可通过积累丰富的职业经历降低过度自信从而降低企业财务风险。How to deal with the enterprise financial risk caused by CEO overconfidence is still an urgent problem to be solved.Starting from cutting off the"pollution source"of CEO overconfidence,this paper makes an empirical study on the relationship between CEO career experience diversity,overconfidence and corporate financial risk based on upper echelons theory and social cognitive theory.The study shows that CEOs with more professional experience are less likely to be overconfident,and the diversity of CEOs in enterprises and industries plays a major role in this effect.Further research shows that CEO overconfidence can enhance corporate financial risk,and CEO can reduce overconfidence by accumulating rich professional experience,so as to reduce corporate financial risk.

关 键 词：有限理性 职业经历多样性 过度自信 企业财务风险 

分 类 号：F272.3[经济管理—企业管理]