• Social Capital and Management Commitment
    发布时间:2019-09-23 查看次数:

    光华讲坛暨现代会计学术沙龙


    题:Social Capital and Management Commitment

    主讲人:新加坡理工大学  欧阳庆(Keng Kevin Ow Yong)副教授

    主持人:西南财经大学会计学院 王雨诗副教授

    2019924日(本周二)下午2:00-3:30

    :西南财经大学柳林校区通博楼D301会议室

    主办单位:会计学院 科研处


    主讲人简介:

    欧阳庆( Keng Kevin Ow Yong )毕业于杜克大学商学院,先后在新加坡管理大学、北京大学汇丰商学院、新加坡理工大学( Singapore Institute of Technology )商学院任助理教授和副教授。他主要从事会计学的实证研究工作,研究领域包括公允价值会计,会计政策制定,分析师,会计信息披露等领域。在国际知名的学术期刊发表论文数篇,包括Contemporary accounting research, Review of accounting studies, Journal of accounting and public policy, European accounting review等。

    主要内容:

    This study examines the effects of social capital on managerial decisions to own shares in their companies as well as its influence on dividend payout policy. Consistent with the notion that social capital induce cooperative norms and alleviate agency frictions, we document evidence demonstrating that firms with headquarters in high social capital regions are associated with higher managerial ownership and greater dividend payouts to shareholders. Further analysis indicates that the association between social capital and managerial ownership has weakened in recent years but not the association between social capital and dividend payouts. We also perform a component analysis of social capital to further understand this phenomenon. Our results suggest that social norms influence dividend commitment to a greater extent than networks, whereas social norms and networks exhibit similar effects on managerial ownership. Overall, our study adds to the growing literature on the impact on social capital in fostering good managerial behavior.


    附:翻译

    社会资本与管理承诺

    本研究探讨社会资本对管理层持股决策的影响及其对股利派发政策的影响。与社会资本诱导合作规范、缓解代理摩擦的观点相一致,我们记录的证据表明,总部位于社会资本较高地区的公司与较高的管理层所有权和向股东派发更多股息相关。进一步分析表明,近年来,社会资本与管理层持股之间的关联性有所减弱,但社会资本与股利分配之间的关联性没有减弱。我们还对社会资本进行了成分分析,以进一步了解这一现象。我们的研究结果表明,社会规范比网络对股利承诺的影响更大,而社会规范和网络对管理层持股的影响相似。总的来说,我们的研究增加了越来越多的关于社会资本在培养良好管理行为方面的影响的文献。