摘要
基于2000—2020年沪深A股上市的民营公司数据,以董事长出生地和籍贯地每万人拥有的族谱数量衡量宗族文化影响强弱,实证检验董事长宗族文化对民营上市公司违规行为的影响。结果发现,董事长宗族文化对公司违规行为存在“协同效应”,即董事长宗族文化有利于抑制其所在公司发生违规行为的概率和次数;价值资源的提高、信息不对称程度的降低以及非正式制度效力的增强,均有助于强化宗族文化对民营上市公司违规行为的抑制作用。
Based on the data of private companies listed in Shanghai and Shenzhen A-shares from 2000 to 2020,this paper employs the number of genealogies per 10,000 people in the chairpersons'birthplaces and native places to measure the strength of clan culture and examines the influence of their clan culture on the violation behavior of private listed companies.Results show that the strength of the chairpersons'clan culture has a"synergistic effect"on the companies'violation of regulations,that is,the probability and frequency of their violations is much lower than when the chairpersons ares deeply influenced by their clan culture.Moreover,the improvement of value resources,the reduction of information asymmetry and the enhancement of the effectiveness of informal institutions help to strengthen the inhibition of clan culture on the illegal activities of private listed companies.
作者
张博
吴静宜
陈浩
Zhang Bo;Wu Jingyi;Chen Hao(School of Economics,Shandong University,Jinan 2050100,China;The Credit Reference Center,the People's Bank of China,Shanghai 201201,China;International Lease Finance Corporation,Shenzhen 518038,China)
出处
《东方论坛（青岛大学学报）》
2023年第5期55-72,共18页
Eastern Forum（JOURNAL OF QINGDAO UNIVERSITY）
基金
国家自然科学基金面上项目“法制、文化与金融二元体系的历史演进:典型事实、理论机制与经验证据”(72273075)
教育部人文社会科学研究青年基金项目“深化金融供给侧结构性改革背景下金融二元体系的历史起源与经济效应研究”(21YJC790156)的阶段性成果。
关键词
宗族文化
民营上市公司
违规行为
非正式制度
clan culture
private listed company
violation behavior
informal institution
