Wu Fan, Kuang Xuewen
School of Economics and Management, Nanchang University, Nanchang, China.
Front Psychol. 2022 Feb 2;12:799221. doi: 10.3389/fpsyg.2021.799221. eCollection 2021.
Key subordinate executives play the role of connecting superiors and subordinates within the top management team (TMT). Based on the heterogeneity of TMT preference, this article takes the data of Chinese A-share listed companies from 2010 to 2019 as a sample to examine whether key subordinate executive governance can affect the short-sighted behavior of CEOs. The empirical result shows that there is a positive relationship between key subordinate executive governance and accounting conservatism, and CEO overconfidence can positively moderate the relationship. The study also shows that there is a significant positive relationship between key subordinate executive governance and accounting conservatism in private enterprises and enterprises with high market competition, that is, the key subordinate executives of these two types of enterprises can better enhance the conservatism under the stimulation of CEO overconfidence. This study contributes to the literature by examining how key subordinate executives affect accounting conservatism and link the prudential attitude of key subordinate executives with the behavioral tendency of CEO overconfidence, which has managerial implications for improving the power balance mechanism of TMT and strengthening the human resource incentive of key subordinate executives.
关键下属高管在高层管理团队（TMT）中扮演着连接上级和下级的角色。基于高层管理团队偏好的异质性，本文以2010年至2019年中国A股上市公司的数据为样本，研究关键下属高管治理是否会影响首席执行官（CEO）的短视行为。实证结果表明，关键下属高管治理与会计稳健性之间存在正相关关系，且CEO过度自信能够正向调节这种关系。研究还表明，在民营企业和市场竞争激烈的企业中，关键下属高管治理与会计稳健性之间存在显著的正相关关系，即这两类企业的关键下属高管在CEO过度自信的刺激下能够更好地增强稳健性。本研究通过考察关键下属高管如何影响会计稳健性，并将关键下属高管的审慎态度与CEO过度自信的行为倾向联系起来，为文献做出了贡献，这对改善高层管理团队的权力平衡机制和加强关键下属高管的人力资源激励具有管理启示。
