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

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

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引用次数: 0

摘要

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

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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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