团队性别构成与资产评估偏差  

Group Gender Composition and Asset Appraisal Bias

作　　者：李小荣 万钟 XIAORONG LI;ZHONG WAN

机构地区：[1]中央财经大学财政税务学院,中财-中证鹏元地方财政投融资研究所 [2]清华大学经济管理学院,北京市100085

出　　处：《中国会计评论》2022年第2期267-294,共28页China Accounting Review

基　　金：国家自然科学基金面上项目(72272166、71972192);教育部霍英东教育基金会资助项目(161077);国家社会科学基金一般项目(20BJY216)的资助。

摘　　要：女性是人力资源的重要提供者,具有不同于男性的性格和行为特征,在团队工作中发挥着独特作用.资产评估是现代社会不可或缺的中介服务行业.本文结合团队多样性相关理论,分析并考察资产评估师的性别构成是否影响资产评估偏差.基于2011-2017年上市公司的股权收购资产评估数据,研究发现:当评估师小组中至少有一名女性评估师时,评估偏差更低;相对于单一性别组,男女混合组的评估偏差更低;女性组评估师对评估偏差的抑制作用主要表现为减少正向评估偏差,但对负向评估偏差的影响不显著.进一步研究表明,评估师小组存在一定的"论资排辈"现象,即男女混合组中的女性评估师相对同组的男性评估师资历越高,越能降低评估偏差.研究还发现,评估师性别构成与评估偏差的关系受到评估任务难度和性别歧视的影响,在高难度任务中二者关系更强,当性别歧视严重时二者表现为不相关.本文丰富了资产评估领域的研究,并且为性别多样性的后果提供了经验证据.此外,本文的研究结论有助于正确认识女性在资产评估工作中的作用,对改善资产交易定价效率有一定启示.As an important source of labor,women differ from men in personalities and behavior,and play a unique role in teamwork.Asset appraisal is a typical intermediate service industry in modern society.Based on the theories of group diversity,this paper studies whether the gender composition of the appraiser group is correlated to the asset appraisal bias.Based on the asset appraisal data of stock acquisitions of listed companies during 2o1l to 2017,we find that:The appraisal bias is lower when there is at least one female appraiser in the group;the appraisal bias is lower in mixed-gender group than single-gender group;the reduction of appraisal bias associated with the female appraiser is mainly due to the decline of positive appraisal bias,but not the decline of negative appraisal bias.Further analyses find that the higher qualification of the female appraiser in the mixed-gender group enhances the impact of gender composition on appraisal bias,suggesting that seniority culture exists among the appraisers.In addition,the gender composition of appraisers and the appraisal bias are more strongly correlated when the task complexity is higher,but not correlated when there is more serious gender discrimination.Our research will enrich the literature on the asset appraisal,and provide new empirical evidence for the outcome of gender diversity.Our conclusions also will help to understand the value of women labor capital in asset appraisal work,and shed some light on improving the efficiency of asset pricing.

关 键 词：性别构成 资产评估偏差 女性评估师 性别多样性 

分 类 号：C913.68[经济管理] F275[社会学] F832.51F272.92