文化多样性与企业诉讼风险

Cultural Diversity and Litigation Risk

诉讼风险是我国上市公司当前面临的主要风险之一,本文利用2004—2016年间中国上市公司总部及其子公司8488条被诉微观数据,以方言多样性为代理考察地域文化多样性对企业诉讼风险的影响。本文发现:第一,当上市公司所在地地域文化越多样时,其面临的诉讼风险越高;多样性平均每上升1个标准差,其每年被诉总金额提高约0.03个标准差、总次数增加约0.14次,各子公司每年被诉金额提高约0.01个标准差、次数增加约0.18次。第二,在司法透明度高的地区文化多样性的影响愈发显著,这是由于在法制环境好的地区文化多样性带来的纠纷更多地得以诉诸法律解决。

Litigation risk is one of the main risks currently faced by listed companies in China.This paper examines the effect of culture diversity on corporates' litigation risk using dialect diversity as a proxy of regional cultural diversity,with 8488 pieces of sued data of the headquarters and subsidiaries of listed companies in China from 2004 to 2016.Conclusions are as follows:1.The more diverse of the culture where the listed company located is,the higher the litigation risk it faces;when culture diversity increases by 1 standard deviation,the sued amount increases by about 0.03 standard deviation and the number of times sued increases by about 0.14 times each year;what's more,the sued amount of each subsidiary increases by about 0.01 standard deviation and the number of times sued of each subsidiary increases by about 0.18 times each year.2.In areas with high judicial transparency,the impact of cultural diversity is more significant.This is because in areas with a good legal environment,disputes brought by cultural diversity are more likely to be resolved by law.