Title

高階主管出櫃之經營決策

Translated Titles

Does Top Executives Coming Out Matter in Corporate Decision Making?

Authors

廖敏惠

Key Words

高階主管 ; 出櫃 ; 經營風險決策行為 ; 風險規避 ; Top executives ; Coming out ; Corporate decision-making ; Risk aversion

PublicationName

中興大學會計學研究所學位論文

Volume or Term/Year and Month of Publication

2015年

Academic Degree Category

碩士

Advisor

許永聲

Content Language

繁體中文

Chinese Abstract

本研究探討企業高階主管之出櫃身分及企業出櫃前後期間是否會影響企業之經營風險決策行為及面對風險之規避程度,以1983年至2014年之美國掛牌公司為樣本進行分析。 實證結果發現,企業高階主管出櫃身分及其出櫃前後期間與企業的經營風險決策行為之間有相當程度的影響。高階主管出櫃過程經歷之成長背景與社會化歷程養成之人格特質,對於面對企業不同之風險決策,其思維判斷會造成不一樣的風險規避程度,結果高階主管出櫃企業在經營風險決策行為中增加資產報酬率、預期成長率及投資率,包含有形資產投資及研究發展投資;降低資產收益率及股東權益報酬率之波動。

English Abstract

This study examines whether a company top executives coming out affect the corporate decision making and the degrees toward risk aversion. The sample companies are obtained from 1983 to 2014. The empirical results show that the company top executives with coming out identity will have an impact on corporate decision-making. The process of coming out with the growth background and the socialization experiences adjusts people characteristics, when face risk decision will have different degrees of risk exposure. The results exhibit a higher rate of ROA、the long-term growth and investment rate either in tangible capital or in R&D. And lower variances in assets and equity returns.

Topic Category 管理學院 > 會計學研究所
社會科學 > 財金及會計學
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