竞争政策与公司治理：基于反垄断法实施的准自然实验

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-05-06 DOI:10.1016/j.frl.2025.107527

Shuo Wang, Deming Huang

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引用次数: 0

摘要

本研究将反垄断法的实施作为准自然实验，以2004 - 2022年a股上市公司为样本，考察其对公司治理的影响。使用DID模型，分析表明反洗钱的实施显著改善了公司治理。机制分析表明，这一效果主要通过改善经营环境和提高审计质量来实现。进一步分析表明，反垄断法对公司治理的影响存在异质性。

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Competition policy and corporate governance: A quasi-natural experiment based on the implementation of the Anti-Monopoly Law

This study utilizes the implementation of the Anti-Monopoly Law (AML) as a quasi-natural experiment and examines its impact on corporate governance using a sample of A-share listed companies from 2004 to 2022. Using a DID model, the analysis demonstrates that the implementation of the AML significantly improves corporate governance. Mechanism analysis indicates that this effect is primarily achieved through improving the business environment and enhancing audit quality. Further analysis demonstrates heterogeneity in the impact of the AML on corporate governance.

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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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