节约还是支出？军方首席执行官与成本粘性

IF 1.4 4区经济学 Q3 BUSINESS, FINANCE Asia-Pacific Journal of Accounting & Economics Pub Date : 2023-11-02 DOI:10.1080/16081625.2022.2081228

Jie He, Luling He

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引用次数: 0

摘要

ABSTRACT 我们利用 2008 年至 2018 年的中国 A 股制造业上市公司，研究了 CEO 的从军经历对企业成本粘性的影响。我们发现，与没有军方 CEO 的企业相比，有军方 CEO 的企业具有更高的成本粘性。对于社会责任高的企业（国企和企业社会责任表现较好、劳动密集程度较高的企业）和公司治理弱的企业（CEO双重身份、独立董事较少、无董事持股和无四大审计师的企业），结果更为明显。我们的研究拓展了人们对军方首席执行官对企业影响的理解，并揭示了首席执行官的特征如何影响成本粘性。

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Saving or spending? Military CEOs and cost stickiness

ABSTRACT Using Chinese A-share listed manufacturing firms from 2008 to 2018, we examine the effect of CEOs’ military experience on firms’ cost stickiness. We find that firms with military CEOs have higher cost stickiness than those without military CEOs. The results are more pronounced for firms with high social responsibility (in SOEs and firms with better corporate social responsibility performance and higher labor intensity) and weak corporate governance (in firms with CEO duality, less independent directors, no director shareholding and no Big Four auditor). Our research extends the understanding of military CEOs’ influence on firms and sheds light on how CEOs’ characteristics affect cost stickiness.

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来源期刊

Asia-Pacific Journal of Accounting & Economics Multiple-

CiteScore

2.40

自引率

9.10%

发文量

期刊介绍： The Asia-Pacific Journal of Accounting & Economics (APJAE) is an international forum intended for theoretical and empirical research in all areas of economics and accounting in general. In particular, the journal encourages submissions in the following areas: Auditing, financial reporting, earnings management, financial analysts, the role of accounting information, international trade and finance, industrial organization, strategic behavior, market structure, financial contracts, corporate governance, capital markets, and financial institutions. The journal welcomes contributions related to the Asia Pacific region, and targets top quality research from scholars with diverse regional interests. The editors encourage submission of high quality manuscripts with innovative ideas. The editorial team is committed to an expedient review process.