政治关联会影响企业风险承担吗?——来自民营上市公司的经验证据  

Do Political Connections Affect Corporate Risk-taking?——Evidence from Private Listed Companies

作　　者：戴娟萍[1] 郑贤龙[1] 

机构地区：[1]浙江财经大学会计学院,浙江杭州310018

出　　处：《财经论丛》2015年第10期67-76,共10页Collected Essays on Finance and Economics

摘　　要：本文研究了政治关联以及政治关联层级对我国民营上市公司风险承担水平的影响,结果发现:政治关联降低了民营上市公司风险承担水平,且政治关联层级越高,民营上市公司风险承担水平越低。本文的研究深化了对民营企业政治关联所带来的经济后果的认识,同时对加快市场化进程和转变政府职能具有一定的启示意义。Using the data of China＇s A-share private listed companies, we study the influence of political connection on the risk-taking level of private listed companies. The resuhs show that the risk-taking level of private companies with political connection is significantly lower than that of private companies without political connection, and that risk-taking level falls while political connection becomes closer. This study not only deepens our cognition to the economic results of political connection of private companies, but also has implications for speeding up the process of marketization and transforming government functions.

关 键 词：政治关联 企业风险承担 民营上市公司 

分 类 号：F713.55[经济管理—市场营销]