管理层团队背景特征与企业社会责任报告印象管理——来自中国重污染行业上市公司的经验证据
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摘要
基于高阶梯队理论,以2009-2015年披露社会责任报告的中国重污染行业上市公司为样本,研究管理层团队背景特征对社会责任报告印象管理的影响。结果表明:平均较为年长、高学历和良好社会声誉的管理层团队能够显著抑制社会责任报告印象管理行为;管理层团队社会声誉与性别异质性同样可以显著抑制社会责任报告印象管理程度,而学历和专业背景异质性则会进一步加剧社会责任报告印象管理程度;进一步考虑产权性质差异,发现管理层团队背景特征与社会责任报告印象管理之间的关系在国有企业与非国有企业之间存在显著差异。
Based on the upper echelons theory,taking listed companies of Chinese heavy pollution industries who disclosed CSR reports during the period of 2009-2015 as research sample,we empirically exam the impact of management teams' demographic characteristics on social responsibility report impression management by constructing a model of impression management.The results show that the management teams which are older,with higher education or reputation,can significantly curb the degree of impression management in social responsibility report.Meanwhile,the higher heterogeneity of age,reputation or gender ratio,the lower the degree of the impression management,while higher heterogeneity of degree or education background will significantly exacerbate the degree of the impression management.In the further study,we also finds some significant different conclusions when considering the nature of property rights differences.
Based on the upper echelons theory,taking listed companies of Chinese heavy pollution industries who disclosed CSR reports during the period of 2009-2015 as research sample,we empirically exam the impact of management teams' demographic characteristics on social responsibility report impression management by constructing a model of impression management.The results show that the management teams which are older,with higher education or reputation,can significantly curb the degree of impression management in social responsibility report.Meanwhile,the higher heterogeneity of age,reputation or gender ratio,the lower the degree of the impression management,while higher heterogeneity of degree or education background will significantly exacerbate the degree of the impression management.In the further study,we also finds some significant different conclusions when considering the nature of property rights differences.
引文
[1]吉利,张正勇,毛洪涛.企业社会责任信息质量特征体系构建[J].会计研究,2013(1):50-56.
[2]黄艺翔,姚铮.企业社会责任报告、印象管理与企业业绩[J].经济管理,2016(1):105-115.
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[4]卢馨,张乐乐,李慧敏,等.高管团队背景特征与投资效率——基于高管激励的调节效应研究[J].审计与经济研究,2017(2):66-77.
[5]池国华,杨金,邹威.高管背景特征对内部控制质量的影响研究——来自中国A股上市公司的经验证据[J].会计研究,2014(11):67-74.
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[7] Rao K,Tilt C.Board compensation and corporate social responsibility:the role of diversity,gender,strategy and decision making[J].Journal of Business Ethics,2016,138(2):1-21.
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[9]吴成颂,黄送钦,钱春丽.高管背景特征对银行风险承担的影响——来自中国上市银行的经验证据[J].现代财经(天津财经大学学报),2014(5):3-14.
[10]吕英,王正斌,安世民.女性董事影响企业社会责任的理论基础和实证研究述评[J].外国经济与管理,2014,36(8):14-22,32.
[11]Tata J,Prasad S.CSR communication:an impression management perspective[J].Journal of Business Ethics,2015,132(4):765-778.
[12]Zang A Y.Evidence on the trade of between real activities manipulation and accrual—based earnings management[J].The Accounting Review,2011,87(2):67-703.
[13]张正勇,邱佳涛.会计稳健性与社会责任报告印象管理[J].证券市场导报,2017(3):19-25.
[14]杨浩,陈暄,汪寒.创新型企业高管团队背景教育与企业绩效关系研究[J].科研管理,2015,36(1):216-223.
[15]韩静,陈志红,杨晓星.高管团队背景特征视角下的会计稳健性与投资效率关系研究[J].会计研究,2014(12):25-31+95.
[16]杨瑞平,梁张颖.高管团队背景特征对内部控制影响研究[J].经济问题,2016(9):102-106.
[17]李端生,周虹.高管团队特征、垂直对特征差异与内部控制质量[J].审计与经济研究,2017(2):24-34.
[18]何威风,刘启亮.我国上市公司高管背景特征与财务重述行为研究[J].管理世界,2010(7):144-155.
[19]刘睿智.人口统计学特征、高管薪酬与盈余管理[J].财经问题研究,2017(5):65-71.
[20]王士红.所有权性质、高管背景特征与企业社会责任披露——基于中国上市公司的数据[J].会计研究,2016(11):53-60.
[21]张复生,马胜男.高管背景特征与信息披露质量的相关性研究述评[J].财会月刊,2016,27(1):109-113.
[22]林新奇,蒋瑞.高层管理团队特征与企业财务绩效关系的实证研究——以我国房地产上市公司为例[J].浙江大学学报(人文社会科学版),2011(3):190-197.
[23]Manner H M.The impact of CEO characteristics on corporate social performance[J].Journal of Business Ethics,2010,93(1):53-72.
[24]张正勇,吉利.企业家人口背景特征与社会责任信息披露——来自中国上市公司社会责任报告的经验证据[J].中国人口资源与环境,2013,23(4):131-138.
[25]金雪军,郑丽婷.谁能成为明星CEO——管理者声誉的来源及影响[J].经济理论与经济管理,2015(9):86-100.
[26]Jian M,Lee K W.Does CEO reputation matter for capital investments?[J].Journal of Corporate Finance,2011,17(4):929-946.
[27]Abbott L.Female board presence and the likelihood of financial restatement[J].Accounting Horizons,2012,26(4):607-629.
[28]Harjoto M,Laksmana I,Lee R.Board diversity and corporate social responsibility[J].Journal of Business Ethics,2015,132(4):641-660.
[29]权小锋,吴世农,尹洪英.企业社会责任与股价崩盘风险:“价值利器”或“自利工具”?[J].经济研究,2015(11):49-64.
[30]Dhaliwal D,Li O Z,Tsang A,et al.Corporate social responsibility disclosure and the cost of equity capital:the role of stakeholder orientation and financial transparency[J].Journal of Accounting and Public Policy,2014,33(4):328-355.
[2]黄艺翔,姚铮.企业社会责任报告、印象管理与企业业绩[J].经济管理,2016(1):105-115.
[3]黄继承,盛明泉.高管背景特征具有信息含量吗?[J].管理世界,2013(9):144-153+171.
[4]卢馨,张乐乐,李慧敏,等.高管团队背景特征与投资效率——基于高管激励的调节效应研究[J].审计与经济研究,2017(2):66-77.
[5]池国华,杨金,邹威.高管背景特征对内部控制质量的影响研究——来自中国A股上市公司的经验证据[J].会计研究,2014(11):67-74.
[6] Hambrick D C,Mason P A.Upper echelons:the organization as a reflection of its top manager[J].Academy of Management Review,1984,9(2):193-206.
[7] Rao K,Tilt C.Board compensation and corporate social responsibility:the role of diversity,gender,strategy and decision making[J].Journal of Business Ethics,2016,138(2):1-21.
[8]陈传明,孙俊华.企业家人口背景特征与多元化战略选择——基于中国上市公司面板数据的实证研究[J].管理世界,2008(5):124-133.
[9]吴成颂,黄送钦,钱春丽.高管背景特征对银行风险承担的影响——来自中国上市银行的经验证据[J].现代财经(天津财经大学学报),2014(5):3-14.
[10]吕英,王正斌,安世民.女性董事影响企业社会责任的理论基础和实证研究述评[J].外国经济与管理,2014,36(8):14-22,32.
[11]Tata J,Prasad S.CSR communication:an impression management perspective[J].Journal of Business Ethics,2015,132(4):765-778.
[12]Zang A Y.Evidence on the trade of between real activities manipulation and accrual—based earnings management[J].The Accounting Review,2011,87(2):67-703.
[13]张正勇,邱佳涛.会计稳健性与社会责任报告印象管理[J].证券市场导报,2017(3):19-25.
[14]杨浩,陈暄,汪寒.创新型企业高管团队背景教育与企业绩效关系研究[J].科研管理,2015,36(1):216-223.
[15]韩静,陈志红,杨晓星.高管团队背景特征视角下的会计稳健性与投资效率关系研究[J].会计研究,2014(12):25-31+95.
[16]杨瑞平,梁张颖.高管团队背景特征对内部控制影响研究[J].经济问题,2016(9):102-106.
[17]李端生,周虹.高管团队特征、垂直对特征差异与内部控制质量[J].审计与经济研究,2017(2):24-34.
[18]何威风,刘启亮.我国上市公司高管背景特征与财务重述行为研究[J].管理世界,2010(7):144-155.
[19]刘睿智.人口统计学特征、高管薪酬与盈余管理[J].财经问题研究,2017(5):65-71.
[20]王士红.所有权性质、高管背景特征与企业社会责任披露——基于中国上市公司的数据[J].会计研究,2016(11):53-60.
[21]张复生,马胜男.高管背景特征与信息披露质量的相关性研究述评[J].财会月刊,2016,27(1):109-113.
[22]林新奇,蒋瑞.高层管理团队特征与企业财务绩效关系的实证研究——以我国房地产上市公司为例[J].浙江大学学报(人文社会科学版),2011(3):190-197.
[23]Manner H M.The impact of CEO characteristics on corporate social performance[J].Journal of Business Ethics,2010,93(1):53-72.
[24]张正勇,吉利.企业家人口背景特征与社会责任信息披露——来自中国上市公司社会责任报告的经验证据[J].中国人口资源与环境,2013,23(4):131-138.
[25]金雪军,郑丽婷.谁能成为明星CEO——管理者声誉的来源及影响[J].经济理论与经济管理,2015(9):86-100.
[26]Jian M,Lee K W.Does CEO reputation matter for capital investments?[J].Journal of Corporate Finance,2011,17(4):929-946.
[27]Abbott L.Female board presence and the likelihood of financial restatement[J].Accounting Horizons,2012,26(4):607-629.
[28]Harjoto M,Laksmana I,Lee R.Board diversity and corporate social responsibility[J].Journal of Business Ethics,2015,132(4):641-660.
[29]权小锋,吴世农,尹洪英.企业社会责任与股价崩盘风险:“价值利器”或“自利工具”?[J].经济研究,2015(11):49-64.
[30]Dhaliwal D,Li O Z,Tsang A,et al.Corporate social responsibility disclosure and the cost of equity capital:the role of stakeholder orientation and financial transparency[J].Journal of Accounting and Public Policy,2014,33(4):328-355.