失信环境如何影响企业风险承担？ ——来自城市失信被执行人的经验证据

潘爱玲; 王 雪

失信环境如何影响企业风险承担？ ——来自城市失信被执行人的经验证据

引用本文：潘爱玲，王雪.失信环境如何影响企业风险承担？ ——来自城市失信被执行人的经验证据[J].财经理论与实践,2023,(4):34-41

摘要点击次数: 151

全文下载次数: 0

作者	单位
潘爱玲，王雪	（山东大学管理学院，山东济南 250100）

中文摘要:基于最高人民法院公布的失信被执行人数据，考察社会信用环境对企业风险承担的影响。结果显示：社会失信越严重，企业风险承担水平越低；机制检验表明，失信环境主要通过加剧融资约束与增加供应链风险性来抑制企业风险承担水平；进一步研究发现，民营企业、成立时间较短的企业及未受产业政策扶持的企业在失信环境中的风险承担选择更为保守；此外，政府通过加强诚信宣传教育与信用监管可以有效缓解社会失信对企业风险承担的负面影响。

中文关键词:失信环境风险承担融资约束信息不对称信用建设

How the Dishonest Environment Affects the Level of Corporate Risk-taking？—Empirical Evidence from Urban Dishonest Executees

Abstract:This paper uses the data of dishonest executees published by the Supreme People’s Court to verify the impact of the social credit environment on the choice of corporate risk-taking. The results show that the social dishonest environment has a significant negative effect on corporate risk-taking, and the mechanism test shows that the dishonest environment mainly suppresses the level of corporate risk-taking by exacerbating financing constraints and increasing supply chain risk. Further research found that private enterprises, enterprises with a relatively short time of establishment and enterprises not supported by industrial policies have more conservative choices of risk taking in the dishonest environment. In addition, the government can effectively curb the negative impact of social dishonesty by strengthening integrity education and credit supervision.

keywords:dishonest environment corporate risk taking financing constraint information asymmetry credit construction

查看全文 查看/发表评论 下载pdf阅读器