财经理论与实践2016，Vol.37Issue(2)：60-66,7.
公司治理、管理者动机与衍生金融工具使用
Corporate Governance,Managerial Motives and Derivatives Usage
摘要
Abstract
Using a sample of listed firms from 2007 to 2013,this paper examines the impact of the strength of governance on the policy of financial derivatives.Furthermore,this paper analy-zes and examines how ownership nature and policy supervision influence the effects of corporate governance.We find that strongly governed firms tend to use derivatives to avoid financial dis-tress;on the other hand,weakly governed firms appear to use derivatives mostly for avoiding risks related to managerial compensation.The relation between corporate governance and the pol-icy of financial derivatives is affected by the nature of controlling shareholder ownership.关键词
公司治理/管理者动机/衍生金融工具/风险管理Key words
corporate governance/managerial motive/financial derivative/risk management分类
管理科学引用本文复制引用
程玲莎..公司治理、管理者动机与衍生金融工具使用[J].财经理论与实践,2016,37(2):60-66,7.基金项目
国家社科基金(12BGL029)、浙江省教育厅项目(Y201430943)、浙江省审计厅项目(201503140) （12BGL029）
