{"title":"国有企业的问责制和信息披露质量","authors":"Fangsu Dong , Huaichen Dong , Lei Zhang","doi":"10.1016/j.frl.2024.106462","DOIUrl":null,"url":null,"abstract":"<div><div>This study investigates the impact of accountability on the quality of information disclosure of state-owned enterprises, with a particular focus on the Accountability System for Illegal Business Operations and Investments (ASIBOI) that has been progressively implemented in China. Utilizing A-share listed companies from 2012 to 2022 as the research sample, we used the staggered difference-in-differences approach to explore the relationship and mechanism between ASIBOI and the quality of information disclosure of state-owned enterprises. The results show that ASIBOI improves the quality of information disclosure of state-owned enterprises by improving the internal governance system of enterprises, and this finding still holds after a series of robustness tests.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"71 ","pages":"Article 106462"},"PeriodicalIF":7.4000,"publicationDate":"2024-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Accountability and the quality of information disclosure of state-owned enterprises\",\"authors\":\"Fangsu Dong , Huaichen Dong , Lei Zhang\",\"doi\":\"10.1016/j.frl.2024.106462\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>This study investigates the impact of accountability on the quality of information disclosure of state-owned enterprises, with a particular focus on the Accountability System for Illegal Business Operations and Investments (ASIBOI) that has been progressively implemented in China. Utilizing A-share listed companies from 2012 to 2022 as the research sample, we used the staggered difference-in-differences approach to explore the relationship and mechanism between ASIBOI and the quality of information disclosure of state-owned enterprises. The results show that ASIBOI improves the quality of information disclosure of state-owned enterprises by improving the internal governance system of enterprises, and this finding still holds after a series of robustness tests.</div></div>\",\"PeriodicalId\":12167,\"journal\":{\"name\":\"Finance Research Letters\",\"volume\":\"71 \",\"pages\":\"Article 106462\"},\"PeriodicalIF\":7.4000,\"publicationDate\":\"2024-11-13\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Finance Research Letters\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1544612324014910\",\"RegionNum\":2,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612324014910","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
摘要
本研究探讨了问责制对国有企业信息披露质量的影响，尤其关注了在中国逐步实施的《违规经营投资责任追究制度》（ASIBOI）。我们以 2012 年至 2022 年的 A 股上市公司为研究样本，采用交错差分法探讨了 ASIBOI 与国有企业信息披露质量之间的关系和机制。结果表明，ASIBOI 通过完善企业内部治理体系提高了国有企业的信息披露质量，并且这一结论在经过一系列稳健性检验后仍然成立。
Accountability and the quality of information disclosure of state-owned enterprises
This study investigates the impact of accountability on the quality of information disclosure of state-owned enterprises, with a particular focus on the Accountability System for Illegal Business Operations and Investments (ASIBOI) that has been progressively implemented in China. Utilizing A-share listed companies from 2012 to 2022 as the research sample, we used the staggered difference-in-differences approach to explore the relationship and mechanism between ASIBOI and the quality of information disclosure of state-owned enterprises. The results show that ASIBOI improves the quality of information disclosure of state-owned enterprises by improving the internal governance system of enterprises, and this finding still holds after a series of robustness tests.
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