经济与管理2024，Vol.38Issue(1)：1-8,8.
金融强监管对企业风险承担的影响
Strong Financial Regulation Affects Corporate Risk-Taking:
摘要
Abstract
Against the background of increasing economic downward pressure,the operation of real enterprises in China faces more challenges,and the issue of corporate risk-taking is particularly prominent.This paper selects A-share listed companies from 2011-2021 as a sample and uses the implementation of the new capital management regulation as a quasi-natural experiment to test the im-pact of the new capital management regulation on the risk-taking level of enterprises and to explore the risk behavior of micro-enterpri-ses under strong financial regulation.It is found that the new CRA regulation enhances firms'risk-taking levels,especially non-state and low credit-rated firms in the face of strong financial regulatory pressure.The results of the moderating effect test show that firms can mitigate the cost pressure of increased risk-taking under the new regulation by increasing the transparency of their information dis-closure and improving the business environment for firms.关键词
资管新规/风险承担/信息披露透明度/营商环境/资本市场Key words
new capital management regulation/risk-taking/transparency of information disclosure/business environment/capital market分类
管理科学引用本文复制引用
赵昕,李亚男,丁黎黎..金融强监管对企业风险承担的影响[J].经济与管理,2024,38(1):1-8,8.基金项目
国家自然科学基金项目(71973132) （71973132）
