舞弊处罚能提高上市公司的财务绩效吗

Can Fraud Punishment Improve the Financial Performance of Listed Companies

监管部门对上市公司舞弊行为的处罚受到广泛关注,现有研究并未明确舞弊处罚对公司财务绩效的影响和影响路径。以2014—2020年沪深两市中因舞弊被监管部门处罚的上市公司为样本,对我国上市公司因舞弊被处罚后的财务绩效进行实证研究。研究结果表明,监管部门的舞弊处罚对上市公司财务绩效有负向影响,且通过中介效应模型进一步分析了舞弊处罚对上市公司财务绩效的作用路径,为因舞弊受到监管处罚的上市公司提出了改进建议。

The punishment of regulatory authorities for the fraud of listed companies has gotten a lot of attention,but existing studies have not clarified the effect and its influencing paths of fraud punishment on corporate financial performance.The paper took those punished companies in Shanghai and Shenzhen from 2014 to 2020 as the sample,and made an empirical research on the financial performance of the listed companies after the punishment for fraud.The results showed that,there was a negative relationship between the two research objects.And the mediation effect model was used to further analyze the action path,so as to put forward some recommendations on improvements.