How trade friction amplifies corporate litigation risk: Evidence from United States–China tariff disputes

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-07-10 DOI:10.1016/j.frl.2025.107946

Xiaoning Ma , Xue Lei , Yu Jiang , Ouwen Lin

引用次数: 0

Abstract

This study examines how trade conflict affects companies’ litigation risk using tariff lists as natural experimental shocks. Analyzing Chinese A-share firms (2013–2023), we find that targeted manufacturing companies face significantly higher litigation rates during trade disputes. Results reveal cash flow constraints and supply chain disruptions as key mechanisms transmitting external trade pressure to legal complications. The effect is also stronger for private firms and those lacking political connections. This study bridges macroeconomic trade tensions and microeconomic legal risks, providing practical insights for corporate risk management and policy development amid international trade conflict.

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贸易摩擦如何放大企业诉讼风险：来自中美关税争端的证据

本研究以关税清单作为自然实验冲击，考察贸易冲突如何影响企业的诉讼风险。分析中国a股公司（2013-2023），我们发现目标制造业公司在贸易争端中面临更高的诉讼率。研究结果表明，现金流约束和供应链中断是将外部贸易压力转化为法律纠纷的关键机制。对于私人公司和那些缺乏政治关系的公司，这种影响也更大。本研究将宏观经济的贸易紧张局势与微观经济的法律风险联系起来，为企业在国际贸易冲突中的风险管理和政策制定提供实用的见解。

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

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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