董事高管责任保险能否抑制股价崩盘风险
投稿时间:2015-09-16  修订日期:2015-09-16  点此下载全文
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作者单位地址
胡国柳* 海南大学经济与管理学院 海南省海口市美兰区海南大学社科裙楼B座313室
宛晴 海南大学经济与管理学院 
基金项目:国家自然科学基金项目(71562010),海南大学学科重点领域建设项目(ZXBJH-XK021)
中文摘要:摘 要:股价崩盘严重损害投资者利益并阻碍股票市场健康发展,因此探寻抑制股价崩盘风险的手段成为当前公司治理与企业财务领域关注的热点问题。使用2009-2013年我国A股上市公司数据为样本,实证检验董事高管责任保险与公司股价崩盘风险之间的关系。研究发现:上市公司购买董事高管责任保险能有效监督与约束高管利己行为,进而降低股价崩盘风险。该结论有助于深入了解董事高管责任保险,同时也为监管部门遏制股价崩盘现象提供了新的思路。
中文关键词:董事高管责任保险  股价崩盘风险  公司治理
 
Can Directors Liability Insurance Restrain Stock Price Crash Risk——Empritical Evidence from Chinese Listed Companies
Abstract:Abstract: The stock market crash has seriously damaged the interests of investors and hindered the healthy development of the stock market,therefore exploring the means of suppressing the stock price crash risk has become a hot issue in the field of corporate governance and corporate finance. This paper discussed the relationship between derictors’ and officers’ liability insurance and stock price crash Risk based on a sample of 2009-2013 A-share listed companies.The study found that derictors’ and officers’ liability insurance can effectively reduce the stock price crash risk.The conclusion is helpful to understand the Derictors’ and Officers’ Liability Insurance and provides a new thinking for the surpervision department to curb the stock price crash risk.
keywords:Derictors’ and Officers’ Liability Insurance  Stock Price Crash Risk  Corporate Govrnance
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