Can government supervision alleviate the deviation of enterprises from the real economy to the financial sector: Evidence from China

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-02-17 DOI:10.1111/ecpo.12279

Shangkun Liang, Weizhi Xue, Dan Yang

引用次数: 0

Abstract

In China, the deviation of enterprises from the real economy to the financial sector has raised concerns. Using a sample of listed companies held by central state-owned enterprises from 2009 to 2018, we investigate the influence of government supervision on this deviation. We find that government supervision effectively reduces investments in financial assets by central state-owned enterprises. The impact is more significant in enterprises with internal control deficiencies, especially in those related to finance. Further study finds that the effect of government supervision conducted for the first time, second time, and third time shows a decreasing trend.

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政府监管能否缓解企业从实体经济向金融部门的偏离？来自中国的证据

在中国，企业从实体经济向金融业的偏离引发了人们的关注。我们以 2009 年至 2018 年中央国有企业控股的上市公司为样本，研究了政府监管对这种偏离的影响。我们发现，政府监管有效减少了中央国有企业对金融资产的投资。这种影响在内部控制存在缺陷的企业中更为显著，尤其是与金融相关的企业。进一步研究发现，第一次、第二次和第三次政府监管的效果呈下降趋势。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.