Peasant youth experiences of CEOs, risk aversion and corporate performance

IF 1.3 4区社会学 Q3 SOCIOLOGY

Rationality and Society Pub Date : 2020-08-01 DOI:10.1177/1043463120945636

Kebin Deng, Z. Ding, Yalu Wang

引用次数: 0

Abstract

This article examines the impact of spiritual tempering on corporate performance by investigating the experiences of CEOs who were part of the “peasant youth” between 1957 and 1976 in China. Using a sample of China’s listed companies and by developing propensity score matching and a difference-in-differences model, we find that CEOs who had profound peasant youth experiences have a stronger awareness of risk prevention and that these experiences lead to an improvement in corporate performance of over 3%. In addition, the positive impact of CEOs’ peasant youth experience on corporate performance is pronounced in either state-owned or non-state-owned enterprises. Overall, this study confirms that spiritual tempering has a significant positive impact on corporate performance.

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CEO的农民青年经历、风险规避与企业绩效

本文通过调查1957年至1976年间中国“农民青年”CEO的经历，考察了精神锻炼对企业绩效的影响。以中国上市公司为样本，通过建立倾向得分匹配和差异中的差异模型，我们发现具有深厚农民青年经历的CEO具有更强的风险防范意识，这些经历使公司绩效提高了3%以上。此外，CEO的农民青年经历对企业绩效的积极影响在国有或非国有企业中都很明显。总体而言，本研究证实了精神磨炼对企业绩效有显著的正向影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Rationality and Society SOCIOLOGY-

CiteScore

1.50

自引率

0.00%

发文量

期刊介绍： Rationality & Society focuses on the growing contributions of rational-action based theory, and the questions and controversies surrounding this growth. Why Choose Rationality and Society? The trend toward ever-greater specialization in many areas of intellectual life has lead to fragmentation that deprives scholars of the ability to communicate even in closely adjoining fields. The emergence of the rational action paradigm as the inter-lingua of the social sciences is a remarkable exception to this trend. It is the one paradigm that offers the promise of bringing greater theoretical unity across disciplines such as economics, sociology, political science, cognitive psychology, moral philosophy and law.