股权质押《新规》对就业的影响研究

Research on the Impact of the New Regulations on Employment of Equity Pledges

本文以“股权质押新规”颁布为准自然实验场景,研究“新规”对时下严峻的就业问题产生的治理效应。研究结果表明,“新规”产生了积极的治理效应。进一步研究发现,“新规”对国有企业具有更强的治理效应。本文研究为“新规”实施的经济后果提供了理论支撑和经验证据,同时对监管层规范上市公司控股股东股权质押行为具有一定的政策启示。

This paper takes the promulgation of the"New Regulations on Equity Pledge"as a quasi-natural experimental scenario to study the governance effect of the"New Regulations"on the current severe employment problem.The results of the study show that the"new regulations"have a positive governance effect.Further research finds that the"new regulations"have a stronger governance effect on state-owned enterprises.This paper provides theoretical support and empirical evidence for the economic consequences of the implementation of the New Regulations,and has certain policy implications for the regulator to regulate the equity pledge behavior of controlling shareholders of listed companies.