董事责任保险、网络安全治理与上市公司可持续发展能力

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-09-23 DOI:10.1016/j.frl.2025.108541

Yaxin Hu , Silin Chen , Yongqian Tu

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引用次数: 0

摘要

本文以我国非金融类上市公司为研究对象，系统考察了董事责任保险（D&；O）、网络安全治理与公司可持续发展能力之间的相互关系。研究结果表明，d&o保险和网络安全治理均显著提升了上市公司的可持续发展能力。此外，保险与网络安全治理之间存在显著的交互效应，二者的协同效应进一步增强了企业的可持续发展能力。异质性分析显示，在董事会独立程度不同的公司中，d&o保险和网络安全治理对可持续发展能力的影响存在显著差异。此外，中介效应分析证实，数字化转型在d&o保险和网络安全治理分别影响企业可持续发展能力的路径中起着关键的中介作用。本研究通过构建“D&；O保险-数字化转型-可持续性”传导链，丰富了公司治理与风险管理的横断面研究，为构建中国特色的数字治理体系和公司弹性提供了实证证据。

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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Directors' and officers' liability insurance, cybersecurity governance, and sustainable development capability of listed companies

Focusing on Chinese non-financial listed companies, this paper systematically examines the interrelationships among directors and officers liability insurance (D&O insurance), cybersecurity governance, and corporate sustainable development capability. The findings indicate that both D&O insurance and cybersecurity governance significantly enhance the sustainable development capability of listed companies. Moreover, a notable interaction effect exists between insurance and cybersecurity governance, where their synergistic impact further strengthens corporate sustainable development capability. Heterogeneity analysis reveals significant differences in the influence of D&O insurance and cybersecurity governance on sustainable development capability across companies with varying levels of board independence. Additionally, mediation effect analysis confirms that digital transformation plays a critical intermediary role in the pathways through which D&O insurance and cybersecurity governance respectively affect corporate sustainable development capability. This study enriches the cross-sectional research on corporate governance and risk management by constructing a “D&O insurance-digital transformation-sustainability” conduction chain, providing an empirical evidence for building a China-specific digital governance systems and corporate resilience.

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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