政府监管能否遏制企业高管的过度在职消费？

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-02-25 DOI:10.1016/j.frl.2025.107055

Lijun Lu , Chengwei Wang , Limiao He , Juan Li , Yinglong Zheng

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引用次数: 0

摘要

本文利用2009年至2022年中国上市公司的样本数据，分析了政府监管与企业高管在任期内过度消费的关系。结果表明，政府监管与企业高管过度消费之间存在显著负相关。机制分析表明，商业环境在这一关系中起着至关重要的中介作用。异质性分析表明，商业环境的中介效应在行政执法效果较强的东部地区显著，而在中西部地区不显著。此外，公司规模在这两个变量之间的关系中表现出阈值效应。

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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Can government regulation curb excessive on-the-job consumption by corporate executives?

Using data from a sample of Chinese listed companies between 2009 and 2022, this study analyzes the relation between government regulation and excessive consumption by corporate executives during their tenure. Results indicate a significant negative correlation between government regulation and excessive consumption by corporate executives. Mechanism analysis reveals that business environment plays a crucial mediating role in this relation. Heterogeneity analysis shows that the mediating effect of the business environment is significant in the eastern region, where the administrative law enforcement effect is stronger, but not in the central and western regions. Moreover, corporate size exhibits a threshold effect in the relation between the two variables.

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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

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance