腐败与公司财务行为研究述评和展望——兼述中国式反腐的作用机制

Review and Prospect of Research on Corruption and Corporate Financial Behavior:Also on the Mechanism of Chinese Anti-Corruption

作为社会转型过程中普遍出现的现象,腐败问题受到公司财务行为研究领域的广泛关注。文章从腐败对公司财务行为的影响出发,并就腐败带来的经济后果对学术界的经典文献进行述评。在公司财务行为方面,主要论述腐败对企业投资、企业并购、企业融资、企业创新、现金流以及会计信息质量等影响;在经济后果方面,主要论述腐败对企业绩效和企业价值的影响。在此基础上,进一步从企业性质和政治关联两个角度论述了中国式反腐对公司财务行为的作用机制,并结合我国当前的经济结构转型环境和反腐倡廉行动,提出基于中国制度背景的研究展望。

As a phenomenon in the process of social transformation,the problem of corruption has been paid close attention by scholars in the field of micro enterprise behaviors.This paper reviews the classical literatures of the influence of corruption on micro enterprise behaviors and its economic consequences.In the aspect of micro enterprise behaviors,investment,M & A,corporate finance,corporate innovation,cash flow and the quality of accounting information are mainly discussed.In the aspect of the economic consequences,we mainly discuss the impact of corruption on corporate performance and corporate value.On this basis,this paper further discusses the mechanism of Chinese anti-corruption on micro enterprise behaviors from the perspectives of enterprise nature and political connection.And then this paper puts forward the research prospect on the background of China’s system,combined with China’s current economic restructuring environment and anti-corruption campaign.