Authors:
Wei Wei
and
Mengge Li
Affiliation:
School of Economics and Management, Beijing Jiaotong university, Beijing, China
Keyword(s):
Political Association, Risk-taking, Chairman, CEO.
Abstract:
This paper takes Shanghai and Shenzhen A-share listed manufacturing companies from 2016 to 2019 as research samples, substitutes the data into the Stata to remove the vacancy value, and then uses the command to reduce the tail by 1%. Firstly, the data of each variable is analyzed through descriptive analysis, and then takes the political correlation gap between CEO and director as the independent variable, the level of enterprise risk-taking as the dependent variable, and the enterprise scale EBIT, listing years and annual income growth rate are used as control variables, and the annual variables are controlled. A univariate regression model is constructed. The panel data is defined by Stata. The results show that the political correlation distance between CEO and chairman significantly reduces the risk-taking level of enterprises; In terms of demographic characteristics, gender differences promote the reduction of political connection gap on enterprise risk-taking. This paper enrich
es and expands the research on enterprise risk-taking and executive heterogeneity, which is of great practical significance for the introduction of talents.
(More)