| 多种情境因素下国有企业前期业绩与CEO非正常变更间关系研究 |
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| 引用本文： | 吴明霞,谢永珍.多种情境因素下国有企业前期业绩与CEO非正常变更间关系研究[J].贵州财经学院学报,2018,36(3):64-71. |
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| 作者姓名： | 吴明霞 谢永珍 |
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| 作者单位： | 1. 山东大学 管理学院, 山东 济南 250010;
2. 山东财经大学 国际经贸学院, 山东 济南 250014 |
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| 基金项目： | 本文得到国家自然科学基金"治理风险导向的商业银行公司治理研究：理论发展与机制耦合"（71272119）、董事会非正式沟通对决策质量的影响研究：路径、机理与效应（71372093）、教育部人文社会科学研究规划项目"基于SCP的董事会治理绩效形成机理与影响因素研究"（13YJA630109）和山东省自然科学基金"山东省上市公司董事会治理绩效评价与影响因素研究"（ZR2013GM020）的资助。 |
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| 摘 要： | 通过对2007-2016年中国所有国有企业CEO非正常变更样本的Logistics回归分析，研究了多重情境下公司前期业绩与CEO非正常变更间的关系以证明国有企业目标的多重性。研究结果显示：在亏损国企样本组，公司前期业绩与CEO非正常变更间存在显著负相关关系，而这种负相关关系在盈利样本组则不显著。以上结果说明：不同分类的国有企业股东目标实现的顺序是不同的，中国国有上市公司的目标多元化能够影响公司前期业绩与CEO非正常变更间的关系。
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| 关 键 词： | 公司前期业绩 CEO非正常变更 国有企业目标多元化 公司治理效率 |
| 收稿时间： | 2018-01-05 |
The Research of the Relationship between SOE's Past Performance and CEO Forced Turnover under Multiple Situational Factors |
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| WU Ming-xia,XIE Yong-zhen.The Research of the Relationship between SOE's Past Performance and CEO Forced Turnover under Multiple Situational Factors[J].Journal of Guizhou College of Finance and Economics,2018,36(3):64-71. |
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| Authors: | WU Ming-xia XIE Yong-zhen |
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| Institution: | 1. School of Management, Shandong University, Shandong Province, Jinan, Shandong 250010, China;
2. Shandong University of Finance and Economics, Shandong Province, Jinan, Shandong 250014, China |
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| Abstract: | Using comprehensive financial and accounting data on China's State-owned listed firms from 2007 to 2016, we estimate the relationship between past performance and CEO forced turnover in order to prove that China's State-owned listed firms have multiple goals. There is a significant negative relationship between past performance and CEO forced turnover in loss-making firms but no such relationship in profit-making firms. These results indicate State-owned enterprises' multiple goals have effects on the relationship between past performance and CEO forced turnover. |
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| Keywords: | past performance CEO forced turnover state-owned enterprises' multiple goals corporate governance efficiency |
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