【摘要】 现有的众多经验研究证明,组织中的预算松弛是十分普遍的,而代理理论与权变理论是有效解释预算松弛的重要理论。文章选择我国上市公司2001~2004年的预算数据,研究上市公司预算松弛的影响因素及其对公司业绩的影响。研究发现:1.股权性质、股权结构和企业规模是解释预算松弛的重要变量;2.一个严紧的预算目标有助于提高企业的ROA和ROE,但并未提高企业的主业盈利能力。更多还原

【Abstract】 Many empirical researches indicate that budget slack is prevalent in organizations.There are two important theories for explaining budget slack: agency theory and contingency theory.We select budgetary data from the companies listed in Shanghai or Shenzhen to research on budget slack.Empirical results illuminate: 1.Ownership property,ownership structure and firm size are important explanatory variables for budget slack.2.Tight budget does not have effective incentive effect,but improve manager’s motivation to manage earnings.更多还原