摘要
文章以2010年和2011年为时间窗口,以沪市A股上市公司为研究对象,用Logistic回归模型先分析公司治理特征对高管人员更换的影响,然后进一步分析公司治理特征对高管人员更换-业绩敏感度的影响,并且将高管人员中的董事长和总经理分别进行样本研究,全面探讨具有何种治理特征的上市公司能够更加积极有效地监督和约束高管人员,从而为完善我国的公司治理和高管人员约束机制提供有益的建议。
Based on the data from A share listed firms of Shanghai Stock Exchange during the period 2010-2011, this paper analyzes the effect of corporate governance on top management turnovers by logistic regression model, then further analyzes the effect of replacement-corporate governance characteristics of executive performance sensitivity, and researches the executives of the chairman and general manager as samples, discusses the governance characteristics of listing corporation which are more actively and effectively supervision and constraints of executives, so as to provide useful suggestions to improve our corpo- rate governance and executive constraint mechanism.
出处
《华东经济管理》
CSSCI
2013年第5期118-122,共5页
East China Economic Management
基金
教育部哲学社会科学研究重大课题攻关项目(10JZD0045-2)
国家自然科学基金项目(71072025
71202031
71002018)
关键词
公司治理
高管更换
更换-业绩敏感度
corporate governance
top management turnover
turnover-perfornmnce sensitivity
