女性高管与年报语调管理  

Female Executives and Annual Report Tone Management

作　　者：张英明 徐晨 ZHANG Ying-ming;XU Chen(School of Business,Jiangsu Normal University,Xuzhou Jiangsu 221116)

机构地区：[1]江苏师范大学商学院,江苏徐州221116

出　　处：《湖南财政经济学院学报》2022年第3期92-105,共14页Journal of Hunan University of Finance and Economics

基　　金：国家社会科学基金项目“中小企业集合年金制度构建研究”(项目编号:12BJY041);江苏师范大学研究生创新项目“区块链技术、会计信息质量与R&D融资约束的相关性研究”(项目编号:2020XKT423)。

摘　　要：女性高管的独特领导风范对企业决策产生了重要影响。以2010-2019年沪深A股上市公司为样本,实证检验了女性高管、不同类型的女性核心高管与年报语调管理间的关系,研究结果发现:女性高管对年报净语调、语调操纵具有非线性的抑制效应,核心高管的性别也能显著影响年报语调管理。其中,女性CEO与年报净语调负相关且能抑制年报语调操纵,而女性CFO与年报净语调正相关且会加剧年报语调操纵,上述关系在非国有、具有正向语调操纵动机、拥有高学历和长任期CEO、CFO的上市公司中存在或更显著。The unique leadership style of female executives has an important impact on corporate decision-making.Based on the sample of Shanghai and Shenzhen A-share listed companies from 2010 to 2019,this paper empirically tests the relationship between female executives,different female core executives and annual report tone management.The results show that:the proportion of female executives has a nonlinear inhibitory effect on the annual report tone management,and core executives’gender can also significantly affect the annual report tone management.Female CEOs are negatively correlated with the annual report tone and can inhibit tone manipulation,while female CFOs are positively correlated with the annual report net tone and are more likely to implement tone manipulation.The above relationship only exists or is more significant in the listed companies which are non-state-owned,have motivation to positively manipulate the tone,have CEOs or CFOs with high education or long tenure.This paper provides a useful decision-making reference for the construction of top management team and the supervision of accounting text information quality.

关 键 词：女性高管 女性CEO 女性CFO 净语调 语调操纵 

分 类 号：F275[经济管理—企业管理]