Study On The Relationship Between Managerial Reputation,Investment And Financing Decisions And Corporate Performance

With the overall social economy progress, network and media broadcast development, the "distance" between people is gradually shortened, the information of public figure is more and more exposed. Therefore, more and more people begin to pay attention to reputation. Many scholars launch widely study on the enterprise reputation and personal reputation research. Managers reputation can manifests the managers influence in the social, whether it has really incentive or constraint function produce to managers? This is the aim of study.This paper mainly adopts the manufacturing and processing listed company during2009-2011as the sample data, with the company of the investment and financing behavior as the main research object, firstly, analyze the correlation between managers and company reputation and financing behavior. Based on the analysis, secondly, build a regression model, then, analyze further the sample data regression, finally, validate the relationship and the influencing mechanism with manager reputation, investment, financing level and performance.Empirical analysis shows that firstly, the managers of the company reputation level and the level of investment is inversely related, that is for the high reputation managers, they will be cautious of investing, and maintain and protect its reputation; secondly, Managers reputation level and company level of debt financing is inversely related, that is, the much higher reputation management is, the lower on the debt financing choice possibility is; finally, managers and business performance reputation is positively correlated, that is high reputation regulators can enhance the company performance.