政治关联与官员晋升机制会影响生产安全吗?——来自中国上市公司的证据

Can Political Connection and Official Promotion System Impact Production Safety： Evidence from Chinese Listed Corporations

本文以2007—2013年中国上市公司为样本,以企业高管是否身兼政企两职来判断政治关联,考察了政治关联与官员晋升机制是否影响生产安全。结果表明：首先,有政治关联的企业更易发生生产安全事故;其次,政治关联会减小轻微事故对业绩的冲击,但对导致人员死亡的较严重事故无显著作用;最后,当上市公司所处地区将生产安全与官员晋升机制挂钩后,政治关联与一般和重大生产安全事故间的正相关关系被削弱,与轻微生产安全事故间的关系未受影响。

We study how political connection and official promotion system impact production safety, based on samples of Chinese listed firms from 2007 to 2013. Whether a company has political connection depends on whether senior employees serve as an official simultaneously. We have the following findings. Firstly, it is more easily for safety incidents to happen in politically connected firms. Secondly, political connection can reduce the negative impact on firm＇s performance caused by minor safety incidents instead of serious fatal ones. Finally, after the government takes the reform of ＂promotion only based on zero production- safety incidents＂ for officials, the positive relation between political connection and serious fatal incidents is weakened, but this doesn＇t happen for minor and normal ones.