西安石油大学学报（社会科学版）2024，Vol.33Issue(2)：25-35,11.
投资者关注与企业违约风险:基于供应链视角的实证研究
Investors'Attention and Enterprise Default Risk:An Empirical Study Based on Supply Chain Perspective
摘要
Abstract
Based on the data of Shanghai and Shenzhen A-share listed companies from 2011 to 2020,this paper examined the effect of investor concern on risk governance of supervision.The results show that in-vestors'attention and enhancement can significantly reduce the risk of corporate debt default,while the high proportion of shares held by institutional investors and high-quality information disclosure have a strengthe-ning effect on the relationship between the two.Further tests show that investor attention can reduce the default risk by affecting the concentration degree of the enterprise supply chain.Heterogeneity analysis shows that when financing constraints are low,resource allocation efficiency is high,and enterprise scale is large,investor concern has a more obvious inhibitory effect on enterprise default risk.The conclusion of this study provides practical enlightenment for giving full play to investors'supervision of capital market and strengthening enter-prise risk management.关键词
投资者关注/违约风险/供应链集中Key words
investor concern/default risk/supply chain centralization分类
管理科学引用本文复制引用
赵燕,陈忆梅..投资者关注与企业违约风险:基于供应链视角的实证研究[J].西安石油大学学报（社会科学版）,2024,33(2):25-35,11.基金项目
国家社科基金一般项目"新退市制度驱动企业高质量发展的作用机理和效应研究"(21BJY260) （21BJY260）
安徽省教育厅高校自然科学研究重点项目"基于组织和战略视角的中高层管理者互动对企业韧性的影响机制研究"(2022AH050603). （2022AH050603）
