上市公司董事长变更与公司经营业绩关系研究——基于倾向得分匹配的实证分析  

Study on the relationship between chairman turnover and corporate performance in Chinese listed companies——An empirical study based on propensity score matching analysis

作　　者：谷小城[1] Gu Xiaocheng(School of Accounting,Anhui Business and Technology College,Hefei 231131)

机构地区：[1]安徽工商职业学院会计学院,安徽长丰231131

出　　处：《安徽商贸职业技术学院学报》2024年第2期54-60,共7页Journal of Anhui Business College

基　　金：安徽工商职业学院哲学社会科学重点项目(SK2023B001)。

摘　　要：上市公司董事长变更对企业经营业绩具有重要影响。运用逻辑回归分析模型和倾向得分匹配分析模型,以2015—2021年中国沪深A股上市公司为研究样本,实证分析上市公司董事长变更与公司经营业绩之间的关系。研究结果表明:经营业绩越差的公司越容易出现董事长变更;但是,变更董事长却不能显著提高公司后续经营业绩。这说明董事长的变更并不是解决公司业绩低下的有效方法。Chairman turnover of listed companies has a significant impact on corporate performance.This paper applies logistic regression analysis model and propensity score matching analysis model,using Chinese A-share listed companies in Shanghai and Shenzhen from 2015 to 2021 as research samples to empirically analyze the relationship between chairman turnover and corporate performance.The results indicate that companies with poorer operating performance are more likely to lead to changes in chairman;However,chairman turnover cannot significantly improve the companies' subsequent performance.This indicates that the change of chairman is not an effective way to address the low performance of companies.

关 键 词：董事长变更 经营业绩 逻辑回归分析 倾向得分匹配分析 

分 类 号：F275[经济管理—企业管理]