摘要
本文考察了董事在关联行业任职(DRIs)对企业经营风险产生的影响。研究发现DRIs能够降低企业的经营风险,当董事在关联行业担任非独立董事或管理层,更有利于降低企业的经营风险。在进一步分析中本文发现,首先,DRIs通过控制成本、提高营业收入的稳定性、增加创新产出,降低了企业的经营风险。其次,相较于上市公司的独立董事在关联行业任职,非独立董事在关联行业任职降低企业经营风险的作用更强。最后,当上市公司的产业链信息需求和内外部治理水平更高时,DRIs降低企业经营风险的作用更强。本文丰富了DRIs经济后果及企业经营风险影响因素的相关文献。
This paper examines the impact of director from related industries(DRIs)on business risk.It found that DRIs can reduce business risk.When director serve as non independent director or management in related industries,it is more conducive to reducing business risk.In further analysis,this paper found that,first of all,DRIs reduce the business risk of enterprises by controlling costs,improving the stability of operating income,and increasing innovation output.Secondly,compared with independent director of listed company serving in related industries,non independent director serving in related industries has a stronger role in reducing business risk.Finally,when the industrial chain information demand and internal or external governance level of listed company are higher,DRIs have a stronger role in reducing enterprise business risk.This paper enriches the relevant literature on the economic consequences of DRIs and the influencing factors of business risks.
作者
孙光国
陈思阳
Sun Guangguo;Chen Siyang
出处
《会计研究》
CSSCI
北大核心
2022年第11期87-101,共15页
Accounting Research
基金
财政部会计名家培养工程项目(财会【2019】19号)
辽宁省教育厅重点攻关和服务地方项目(LN2020Z10)
教育部人文社会科学研究项目(21YJC630001)的资助
关键词
董事
关联行业任职
产业链信息
经营风险
Director
Serve In Related Industries
Industry Chain Information
Business Risk
作者简介
通讯作者:陈思阳,siyang@tjcu.edu.cn。
