CAJ | 학술논문

选取2007 ～2011年我国16家上市银行为样本,研究CEO权力、政治关联是否影响银行业绩风险,以及CEO权力同政治关联之间的交互作用.研究发现,无论采用普通最小二乘法还是工具变量法：CEO权力同银行业绩风险正相关；政治关联单独与银行业绩风险具有正向关系；针对强势CEO银行业绩风险施加更多的政治关联,银行业绩风险反而会降低.
선취2007 ～2011년아국16가상시은행위양본,연구CEO권력、정치관련시부영향은행업적풍험,이급CEO권력동정치관련지간적교호작용.연구발현,무론채용보통최소이승법환시공구변량법：CEO권력동은행업적풍험정상관；정치관련단독여은행업적풍험구유정향관계；침대강세CEO은행업적풍험시가경다적정치관련,은행업적풍험반이회강저.
This paper, based on the sample data of listed banks of China in 2007 - 2011, examines whether bank perform- ance risk is a factor influenced by chief executive officer （CEO） power and political connections and the interaction between these factors. Whatever by ordinary least square or instrumental variable method, the result shows that： CEO power is posi- tively associated with bank performance risk; political connections alone have a positive relationship with bank performance risk; when a CEO has more power with higher political connections, he will take on less performance risk. In brief, CEO power changes the relationship of political influence with bank performance risk.