儒家文化、金融地理距离、企业经营策略

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

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引用次数: 0

摘要

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。

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Confucian culture, financial geographic distance, and business management strategy

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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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