企业腐败文化与不当行为:效应与机制  

Corruption Culture and Corporate Misconduct:Effect and Mechanism

作　　者：董斌[1] 刘慧 Dong Bin;Liu Hui(Southeast University;Jiangsu SOHO Holdings Group Co.,Ltd.)

机构地区：[1]东南大学经济管理学院,210096 [2]江苏省苏豪控股集团有限公司,210002

出　　处：《经济评论》2020年第6期142-158,共17页Economic Review

基　　金：国家社会科学基金项目“不同社会环境下民主制度对腐败现象治理效应的经济学研究”(项目编号:13BJL002)的资助。

摘　　要：腐败文化不仅严重破坏政治生态,而且会显著影响经济运行。本文基于企业文化与政府腐败的相关理论,使用2012—2017年A股上市公司数据,研究企业腐败文化与其不当行为之间的关系。结果表明:腐败文化盛行的企业不当行为明显加剧,腐败文化越严重,企业就越可能发生违规及盈余管理行为,并且在国有企业与市场化程度较高地区的企业中,腐败文化与不当行为之间的正向关系更为显著。机制检验发现,腐败文化通过吸引与公司腐败态度相似的高管加入、超越个人价值观两种渠道直接作用于高管行为,进而影响公司的行为决策。因此,持续加大反腐力度、培育廉洁的企业文化、加强上市公司监管是减少企业不当行为的可行举措。Corruption culture not only seriously damages the political ecology, but also severely affects the economic operation. Based on relevant theories of corporate culture and government corruption, we adopt the sample of A-share listed companies from 2012 to 2017 to empirically study the relationship between corruption culture and corporate misconduct. The results show that corruption culture has a significantly positive impact on corporate misconduct, including violations and earnings management. The effect is more remarkable in state-owned enterprises and in market-oriented regions. Actually, corruption culture has a direct effect on senior executives’ behavior and corporate decisions through two channels: attracting similar corruptive executives and transcending personal values. Therefore, it is feasible to reduce corporate misconduct by continuous anti-corruption efforts, cultivating a clean corporate culture and strengthening the supervision of listed companies.

关 键 词：腐败文化 不当行为 公司违规 盈余管理 

分 类 号：F270[经济管理—企业管理] F832.51[经济管理—国民经济]