Does Managerial Education Matter for Credit Risk? Evidence from Taiwan

被引：2

作者：

Nguyen, Thi Bao Ngoc ^{[1
]}

Lin, Li-Feng ^{[2
]}

Su, Xuan-Qi ^{[3
]}

Yu, Jui-Hung ^{[3
]}

机构：

[1] Natl Kaohsiung First Univ Sci & Technol, Coll Finance & Banking, Kaohsiung 824, Taiwan

[2] Air Force Inst Technol, Dept Management, Kaohsiung 820, Taiwan

[3] Natl Kaohsiung First Univ Sci & Technol, Dept Finance, Kaohsiung 824, Taiwan

来源：

FINANCE RESEARCH LETTERS | 2021年 / 41卷

关键词：

Managerial Education; Corporate Credit Risk; Corporate Governance; Industry Competition; CORPORATE GOVERNANCE; IDIOSYNCRATIC RISK; EARNINGS QUALITY; ABILITY; MANAGEMENT; COST;

D O I：

10.1016/j.frl.2020.101812

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper tests how managerial educational level (MEL) determines corporate credit risk (CCR) using a sample of listed Taiwanese firms from 2006 to 2018. Results indicate that controlling for a variety of firm fundamentals and corporate governance effects, a higher MEL is itself associated with a higher credit rating score (i.e., a lower CCR). Such a negative MEL-CCR association is more evident for firms operating in low-competition or monopolistic industries. The overall results are supported by relevant hypotheses associated with MEL, i.e., the productivity-related human capital hypothesis, knowledge-related earnings quality hypothesis, and reputation-related organizational legitimacy hypothesis.

引用

页数：6

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