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预算松弛是预算管理过程中的一个难点问题。基于委托代理理论、权变理论和性别特征,通过对2010-2013年上市公司的公开预算信息进行数据分析,研究管理者性别、业绩预期及其他相关因素对预算松弛的影响。研究结果显示:股权激励、资产负债率、业绩预期与预算松弛负相关,股权集中度、股权质押、管理者性别与预算松弛正相关,非标准无保留意见的审计意见更易出现预算松弛,而四大会计师事务所审计的上市公司不易出现预算松弛。根据结论,应适当减少女性高管的比例,多采用股权激励等方式来奖励管理者,减少股权质押、降低股权集中度对预算松弛都具有有利影响。
Budget slack is a difficult issue in the budget management process. Based on principal-agent theory, contingency theory and gender characteristics, this paper studies the effect of manager’s gender, performance expectancy and other related factors on budgetary slack through data analysis of public budget information of listed companies in 2010-2013. The results show that equity incentive, asset-liability ratio and performance expectation are negatively correlated with budgetary slack. Ownership concentration, equity pledge and manager gender are positively correlated with budgetary slack. Non-standard unqualified audit opinion is more prone to budget slack. Large accounting firms audited listed companies less prone to budget slack. According to the conclusion, the proportion of female senior executives should be reduced appropriately, and managers should be rewarded more by means of equity incentive, reducing the pledge of equity and reducing the concentration of ownership, which has a positive impact on budgetary slack.