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地方政治权力转移与政企关系重建——来自地方官员更替与高管变更的证据; Local Political Power Transition and Reconstruction of Government-business Relations——Evidence from Local officials' Turnover and Executives' Changes
潘越 ; 宁博 ; 肖金利
2015-06-17
关键词政治权力转移 政企关系重建 地方官员更替 高管变更 political power transition reconstruction of government-business relations local officials' turnover executives' changes
英文摘要地方官员更替代表政治权力转移,政企关系往往随之重新洗牌。本文以2006—2012年沪深两市的地方国有企业为研究样本,首次从政企关系重建的视角考察了地方主政官员更替与国有企业高管非正常变更之间的内在关系,并进一步从行业差异、继任官员来源两个角度对这一关系进行了更深层次的研究。结果发现,市委书记更替导致市委直管国有企业的高管发生非正常变更的可能性显著增加。进一步研究表明,市委书记更替对企业高管变更的影响仅显著存在于制造业和房地产业两类企业中。而且,相比来自外地的官员继任,来自本地的官员继任更可能引发企业高管的变更。本文研究还发现,由地方官员更替引致的企业高管变更会显著降低制造业企业的经营绩效,但会显著提升房地产企业的经营绩效。本文的研究不仅丰富了政治不确定性与公司治理的研究范围,还为市场各方洞悉中国国有企业的政企关系以及政治权力干预国有企业的途径与效果提供了新的视角,并为政府决策部门优化国有企业治理改革方案、制定相关配套政策提供了新的参考依据。; The transfer of local officials usually reshuffles the relationship between government and enterprises.Choosing the listed SOEs in China during 2006 and 2012 as a study sample,we selected the reconstruction of government-business relations as the newest angle of view and empirically studied the impact of local officials' turnover to SOEs executives' abnormal changes,and we analyzed this influence in detail from the dimensions of industries and the last job locations of the new officials.The result showed that the probability of executives' changes would increase after local officials' turnover for those SOEs that were directed controlled by municipal people's government.By further testing,we found that this influence only existed in real estate industry and manufacture industry,and new officials came from another municipality showed lower influence on SOEs executives' changes compared to those new officials came from local political system.After a further examination,we found a decreasing market performance in manufacture firms while an increasing market performance in real estate firms after executives* changes caused by political turnover.Our study not only enriched the research on political uncertainty and corporate governance,but also offered an empirical support to understand how political power intervene in market operation,and supported an new reference to political decision-makers to understand the relationship between government and enterprises,and then help they to introduce some relevant laws or regulations.; 国家自然科学基金面上项目“基于慈善捐赠视角的公司财务行为与市场反应研究”(批准号71372071);国家自然科学基金面上项目“媒体的公司治理作用及其对资本市场的影响研究”(批准号71172051)
语种zh_CN
内容类型期刊论文
源URL[http://dspace.xmu.edu.cn/handle/2288/103278]  
专题管理学院-已发表论文
推荐引用方式
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潘越,宁博,肖金利. 地方政治权力转移与政企关系重建——来自地方官员更替与高管变更的证据, Local Political Power Transition and Reconstruction of Government-business Relations——Evidence from Local officials' Turnover and Executives' Changes[J],2015.
APA 潘越,宁博,&肖金利.(2015).地方政治权力转移与政企关系重建——来自地方官员更替与高管变更的证据..
MLA 潘越,et al."地方政治权力转移与政企关系重建——来自地方官员更替与高管变更的证据".(2015).
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