Confucian culture, financial geographic distance, and business management strategy

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-09-29 DOI:10.1016/j.frl.2025.108583

Xiaowen Qi

引用次数: 0

Abstract

This paper empirically investigates the relationship between Confucian culture, financial geographic distance, and corporate business strategy based on data from China's A-share listed companies from 2008 to 2023. The study finds that: first, the stronger the regional Confucian culture, the more conservative the corporate business strategy; second, the closer the financial geographic distance, the more aggressive the corporate strategic decision-making; third, financial geographic distance has a significant moderating effect on the relationship between regional Confucian culture and corporate business strategy; fourth, the moderating effect of financial geographic distance on the impact of regional Confucian culture on corporate business strategy exhibits heterogeneity across companies of different sizes. This paper expands the theoretical boundaries of the influence of Confucian culture and financial geography on corporate strategic behavior and provides empirical evidence for optimizing corporate governance and resource allocation.

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儒家文化、金融地理距离、企业经营策略

本文基于2008 - 2023年中国a股上市公司数据，实证研究儒家文化、金融地理距离与企业经营战略之间的关系。研究发现：第一，地域儒家文化越强，企业经营策略越保守；第二，金融地理距离越近，企业战略决策越激进；第三，金融地理距离对地域儒家文化与企业经营战略的关系具有显著的调节作用；第四，金融地理距离对地域儒家文化对企业经营战略影响的调节作用在不同规模的企业中呈现异质性。本文拓展了儒家文化和金融地理学对公司战略行为影响的理论边界，为优化公司治理和资源配置提供了实证证据。

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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