宗教传统、法治化进程与企业风险承担

发布时间：2018-06-15 18:52

本文选题：宗教传统 + 法治化进程　；参考：《暨南大学》2017年硕士论文

【摘要】：本文从企业风险承担角度切入,主要考察中国转轨经济中正式制度与非正式制度的影响及其相互作用的关系和作用机制。具体而言,本文选取了在沪深发行A股的所有上市企业2000-2014年的数据作为研究样本,运用省级层面的宗教传统和法律环境指数的数据进行实证分析,探讨上市公司总部所在地宗教传统氛围是否会影响企业风险承担及其具体的影响机制。同时,测试在法律发展程度不同的地区,该影响是否存在差异。最后,本文采取多种不同的衡量指标对基础回归结论进行稳健性检验,使本文的实证结论更具说服力。实证发现,上市公司总部所在地区的宗教传统氛围越浓厚,企业的风险承担水平越低。并且,上述关系在中小规模企业中愈发明显。进一步研究发现,法律发展水平高的地区,宗教传统对企业风险承担的负向影响有所削弱,这表明正式制度与非正式制度之间存在一定的替代关系。同时,宗教传统主要是从风险偏好和社会资本两个渠道来影响企业风险承担,且风险偏好的渠道效应更为明显。研究结论为理解中国转轨经济体运行机制提供了经验证据,也能够唤起学界对宗教这种典型的非正式制度安排在转轨经济中的作用的重视。
[Abstract]:From the angle of enterprise risk bearing, this paper mainly studies the influence of formal institution and informal institution in China's transition economy, and the relationship and mechanism of their interaction. Specifically, the data of all listed companies listed in Shanghai and Shenzhen from 2000 to 2014 are selected as the research samples, and the data of religious tradition and legal environment index at provincial level are used for empirical analysis. This paper discusses whether the traditional religious atmosphere in the headquarters of listed companies will affect the risk bearing of enterprises and its specific influence mechanism. At the same time, the impact of the test in areas with different levels of legal development is different. Finally, this paper uses a variety of indicators to test the robustness of the basic regression conclusion, which makes the empirical conclusion more convincing. It is found that the stronger the religious tradition atmosphere in the region where the listed company headquarters is, the lower the risk-bearing level of the company is. Moreover, the above relation is more obvious in the small and medium scale enterprise. Further study shows that the negative influence of religious tradition on enterprise risk bearing is weakened in areas with high level of legal development, which indicates that there is a certain substitute relationship between formal and informal institutions. At the same time, the religious tradition mainly from the risk preference and the social capital two channels to influence the enterprise risk bearing, and the risk preference channel effect is more obvious. The conclusions provide empirical evidence for understanding the operational mechanism of China's transitional economy and arouse the attention of scholars to the role of religion as a typical informal institutional arrangement in the transition economy.
【学位授予单位】：暨南大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：B91;F272.3

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