The Impact of Demographic Factors On Financial Flexibility of Enterprise
A Perspective of Senior Executives
- DOI
- 10.2991/assehr.k.201012.011How to use a DOI?
- Keywords
- Financial Flexibility, Background characteristics of senior executives, Upper Echelons Theory
- Abstract
In recent years, the global economic uncertainty has increased and the fluctuation has become more and more intense. How to maintain sufficient financial flexibility to deal with the uncertainty of the market and achieve stable development is the current focus of accounting circles. It is also an area that our government and enterprises need to seriously consider and study. Based on the demographic factors of senior executives, this paper chooses the gender, age and education of executives as indicators, and takes the A-share non-financial and insurance listed companies from 2013 to 2017 as research samples. Through correlation analysis, multiple regression analysis and robustness analysis, this paper studies the impact of the demographic factors of senior executives on financial flexibility. The results showed that the proportion of women in top management team in the sample of state-owned enterprises had a negative impact on corporate financial flexibility, while the proportion of women in non-state-owned enterprises had a positive impact; the average age of top management team had no significant impact on corporate financial flexibility; and the average degree of top management had a positive impact on corporate financial flexibility.
- Copyright
- © 2020, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Luping Wen AU - Wenwen Wu PY - 2020 DA - 2020/10/12 TI - The Impact of Demographic Factors On Financial Flexibility of Enterprise BT - Proceedings of the 1st Africa-Asia Dialogue Network (AADN) International Conference (AADNIC 2019) PB - Atlantis Press SP - 68 EP - 74 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.201012.011 DO - 10.2991/assehr.k.201012.011 ID - Wen2020 ER -