林业经济问题2024，Vol.44Issue(5)：553-560,8.DOI:10.16832/j.cnki.1005-9709.20240473
党组织嵌入对农林业上市公司发展韧性的影响
The Effects of Party Organization Embedding on the Development Resilience of the Listed Agricultural and Forestry Companies
摘要
Abstract
⑴ Background——Agricultural and forestry enterprises are the backbone forces of connecting farmers,promoting agricultural modernization,revitalization of rural industries and common prosperity.It is an institution-al arrangement of corporate governance with Chinese characteristics to establish the grass-roots organization of CPC in enterprises and promote them to participate in corporate governance.although some literature has dis-cussed the microeconomic effects of party organizations'participation in corporate governance,few literature has studied the microeconomic effects of party organization embedding and its participation in corporate governance on the agricultural and forestry enterprises,nor have they responded to the actual effects of party organization em-bedding on the development resilience of enterprises. ⑵ Methods——Based on China Stock Market&Accounting Research database(CSMAR),WIND database and the personal characteristics database of the"board of directors,board of supervisors and senior executives",1442 annual observations values of 167 listed agricultural and forestry companies were sorted out through the data collection and supplement of the listed companies'home pages,annual reports and Sina Finance.The development resilience was selected as the explained variable,party organization embedding as the explanatory variable,and 14 indicators such as subsidy income and operation capability as the control variables.The OLS method was used to evaluate the effects of party organization embedding on the development resilience of the listed agricultural and forestry companies from 2003 to 2022,and the propensity score matching method was introduced for the robustness test. ⑶ Results——First,from 2003 to 2010,the proportion of the listed agricultural and forestry companies with party organizations in the total sample fluctuated between 76%and 84%,and after reaching a peak of 83.02%in 2010,it showed a significant trend of decline in fluctuations.Second,the development resilience of the listed agricultural and forestry companies had obvious fluctuation characteristics.Third,the establishment of party organizations in the listed agricultural and forestry companies could significantly improve their development resili-ence,and it could last for at least 1 years.The robustness was confirmed by three robustness tests of changing the explained variable,controlling the fixed effects of companies and using the propensity score matching method.Fourth,compared with the companies whose party organizations did not participate in the governance of the board of directors/supervisors,the development resilience of the companies whose party organizations participated in the governance of the board of directors/supervisors was stronger.Fifth,the establishment of party organizations had a significant positive effect on the development resilience of the non-state-owned companies,companies in central and western regions and the listed forestry companies,but had no significant effects on the state-owned companies,companies in eastern regions. ⑷ Conclusions and Discussions——This paper enriches the theoretical results of party organization construc-tion and its participation in corporate governance to enable the agricultural and forestry enterprises to develop their resili-ence and also provides a practical basis for the policy optimization of party organizations.First,encouraging and support-ing qualified agricultural and forestry enterprises to establish party organizations,guiding agricultural and forestry enterpri-ses with party organizations to establish and improving relevant systems for party organizations to participate in corporate governance.So that the qualified members of the party organizations can enter the board of directors,the board of supervi-sors and the senior executives according to the statutory process.Second,unswervingly promoting the party building work of private enterprises,further expanding the coverage of grass-roots party organizations in private enterprises,and impro-ving relevant regulations and systems for party organizations to participate in corporate governance.关键词
党组织/公司治理/发展韧性/农林企业Key words
party organization/corporate governance/development resilience/agricultural and forestry enterprises分类
社会科学引用本文复制引用
林逸晨,刘新玲..党组织嵌入对农林业上市公司发展韧性的影响[J].林业经济问题,2024,44(5):553-560,8.基金项目
福建省社科研究基地重大项目(FJ2022JDZ029)、福建省财政厅专项基金项目(闽财指[2021]848号) （FJ2022JDZ029）
