董事会特征与总经理变更被引量：57

The Characteristics of Board of Directors and CEO Turnover

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摘要本文以在上海证券交易所1999年前上市的公司为样本,研究董事会特征等治理变量对总经理变更的影响。研究结果表明,对相对业绩下降公司的总经理变更能起到显著解释作用的变量只有董事会会议的次数和公司的领导结构。而其它治理变量,诸如董事会规模、管理董事比例、独立董事比例、股权集中度、董事会成员持股比例等,未能对总经理变更起到显著的解释作用。 The article empirically examines the relationship between characteristics of board of directors and CEO turnover based on the data of the listed companies of Shanghai Stock Exchange. The results show that only the board meeting frequency and leader structure can explain the CEO turnover of relative performance decreasing companies. Other governance variables, such as board size, independent directors and board ownership cannot significantly explain the CEO turnover.

作者张俊生曾亚敏

机构地区厦门大学管理学院财务研究与发展中心厦门大学管理学院

出处《南开管理评论》 CSSCI 2005年第1期16-20,共5页 Nankai Business Review

关键词董事会总经理公司股权集中度持股比例上海证券交易所变更 99年解释治理 Corporate Performance Corporate Governance CEO Turnover

分类号 F224 [经济管理—国民经济]

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参考文献18

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