Based on the data of Chinese listed companies in 2011～2020,this study constructs the managerial myopia index through the method of text analysis,and examines the influence of common ownership on the managerial myopia.The results show that common ownership has a significant nega-tive impact on the managerial myopia.Common ownership can strengthen the supervision of compa-nies and improve the level of corporate governance to reduce the managerial myopia;it canalso reduce the threat of the withdrawal of major shareholders,thereby relieving the external pressure of manag-ers and reducing the managerial myopia.Further research shows that common ownership mainly af-fects the managerial myopia of non-state-owned enterprises,but the impact on state-owned enterprises is not significant.It is mainly the long-term common ownership that has an impact on the managerial myopia,and the short-term common ownership has no significant impact on the managerial myopia.
common ownershipmanagerial myopiacorporate governancetext analysis methods
NETL
NSTL
维普
万方数据
