Full-Text Search:
Home|Journal Papers|About CNKI|User Service|FAQ|Contact Us|中文
《Education & Economy》 2013-06
Add to Favorite Get Latest Update

An Empirical Study on the Relationship between the Educational Background of Top Decision Makers and Their Corporate Risk Tolerance in China

WANG Yonghai;ZHOU Wei;College of Education Science, Wuhan University;  
Educational background of top decision makers in corporation has important influences on corporate risk tolerance level. Using a sample set of listed companies in Shanghai and Shenzhen Stock Exchange from 2003 to 2012, we document a significant negative correlation between top decision makers' education level and their corporate risk tolerance. Corporations run by more highly educated decision makers were found to have lower earnings volatility and asset-liability ratio, and higher risk management and tolerance capacity. We also found a significant difference between top decision makers under different educational patterns. Top decision makers with higher education background are more risk averse than those who have vocational education background. This study implicates that education has significant influence on risk decision. Moreover, it contributes to deep understanding of educational investment and return, and has important theoretical significance on optimizing corporate management.
【Fund】: 教育部哲学社会科学研究重大课题攻关项目“国家经济安全与我国金融审计制度创新研究”(项目批准号:10JZD0019)的阶段性研究成果
【CateGory Index】: G40-054;F276.6;F224
Download(CAJ format) Download(PDF format)
CAJViewer7.0 supports all the CNKI file formats; AdobeReader only supports the PDF format.
Chinese Journal Full-text Database 2 Hits
1 WANG Ying,GUAN Jian-cheng,MA Ning (Beijing University of Aeronautics and Astronautics,School of Management,Beijing 100086);The Analysis of Relationship between Top Manager,Strategy and Performance in Chinese Enterprises[J];Journal of Industrial Engineering and Engineering Management;2003-01
2 ZHANG Tie-zhu(School of Finance,Shanghai Institute of Foreign Trade,Shanghai 201620,China);Research on Managerial Risk Traits,Accounting Choices and Earnings Quality[J];Journal of Shanxi Finance and Economics University;2010-09
Chinese Journal Full-text Database 10 Hits
1 Qin Jiaqi;Top Management Team Size and Corporate Performance——Evidence from China's Listed Companies[J];Review of Industrial Economics;2011-01
2 YE Xiao-mei(1.College of Management,Guizhou University,Guiyang 550003 China;2.College of Economics,Wuhan University of Technology,Wuhan 430070 China);Research on the Optimal Method of Enterprise Development Project[J];Journal of Guizhou University of Technology(Social Science Edition);2008-04
3 Huang Xu,Li Weimin,Wang Zhili;Summary of the Top Management Team and Corporate Strategic Relationship[J];Journal of Hebei University of Economics and Business;2011-02
4 ZHANG Jin1,YANG Hui-xin2(1.School of Business and Management,Shandong Economic University,Jinan 250014,China;2.School of Management,Shandong University,Jinan 250100,China);The Empirical Study on Entrepreneurial Innovation Competence in Private High Technology Firm——Based on Human Capital Perspective[J];East China Economic Management;2009-10
5 CHEN Xiao-hong,YIN Zhe & ZENG Jiang-hong(School of Business,Central South University,Changsha 410083,China);The Board Governance,Enterprise Scale and Growing Quality——Evidence from the Listed SMEs in China[J];Journal of East China Normal University(Philosophy and Social Sciences);2007-03
6 Dai Yali, Rahman Rabigul, Xu Zhifang;Current status of minority nursing human resources in secondary and tertiary hospitals in Xinjiang province[J];Journal of Nursing Science;2010-21
7 LIU Ze-shuang(Xi'an University of Technology,School of Business Administration,Xi'an 710054,China);Restudy on the Relationship between Educational Level and Performance of Senior Management of Listed Companies in China[J];Economic Management Journal;2010-08
8 XU Jing-chang,WANG Sheng-hai(School of Business,Renmin University of China,Beijing 100872,China);A STUDY ON CORE CHARACTERISTICS OF CEOS AND THE GROWTH OF FIRMS:EVIDENCE FROM CHINA'S LISTED COMPANIES[J];Economic Theory and Business Management;2010-06
9 CHEN Wei-minCollege of Economics and Management,Nanjin University of Posts and Telecommunications,Nanjin 210003,China;An Empirical Research on the Impact of TMT Demographic Characteristics on Firm Performance[J];Journal of Nanjing University of Posts and Telecommunications(Social Science);2007-01
10 ZHU Ming-xiu,XIONG Jun;Human Capital Characteristics and Executive Compensation: An Empirical Study Based on Chinese Listed Banks[J];Journal of Nanjing Audit University;2012-03
China Proceedings of conference Full-text Database 3 Hits
1 Ye Xiaomei (School of Management of Guizhou University,Guiyang,550003);The Establishment of Optimal Evaluation System for the Scientific and Technological R&D Programs[A];[C];2009
2 ;管理者权力干扰了薪酬激励吗?[A];[C];2011
3 ;Research of Managers’ background characteristics,accounting conservatism and investment efficiency[A];[C];2013
【Secondary Citations】
Chinese Journal Full-text Database 3 Hits
1 An Tongliang (School of Business, Nanjing University);The Technology Choice of Chinese Enterprises[J];Economic Research Journal;2003-07
2 Feng Shuping;Issues on Internationalization of Chinese Accounting standards[J];Accounting Research;2001-11
3 Liu Feng & Bing WANG;What determines Earnings Discrepancy: Accounting standards or professional judgment? ——Preliminary evidence from China's A and B Share reporting[J];Accounting Research;2006-03
©2006 Tsinghua Tongfang Knowledge Network Technology Co., Ltd.(Beijing)(TTKN) All rights reserved