CAJ | 학술논문

高管变更是一个有效的公司控制机制。当企业的经营绩效下降时，董事会便有可能更换现任的高管。对中国农业上市企业总经理变更样本进行的实证研究表明，企业的经营绩效可以在相当大的程度上解释总经理变更的可能性。然而，与董事会初衷不一致的是，总经理变更后企业的经营绩效并没有得到明显改善。因此，农业企业董事会在变更总经理的决策过程中需要非常谨慎，尤其是过度或者频繁变更总经理会给企业带来诸多不良影响。
고관변경시일개유효적공사공제궤제。당기업적경영적효하강시，동사회편유가능경환현임적고관。대중국농업상시기업총경리변경양본진행적실증연구표명，기업적경영적효가이재상당대적정도상해석총경리변경적가능성。연이，여동사회초충불일치적시，총경리변경후기업적경영적효병몰유득도명현개선。인차，농업기업동사회재변경총경리적결책과정중수요비상근신，우기시과도혹자빈번변경총경리회급기업대래제다불량영향。
General manager turnover is an effective control mechanism in companies.When the firm per-formance declines,the board of directors may replace the current executives.The empirical study on a sample of general manager turnover of Chinese agricultural listed companies has showed that,to a great extent,firm per-formance can explain the likelihood of general manager turnover.However,firm performance has not significant-ly improved after replacing general managers,and this is inconsistent with the original intention of the board. Therefore,the board of agricultural companies should be very cautious when they are making decisions to re-place the general manager.Replacing general managers too often,in particular,will bring many bad effects to companies.