摘要
文化作为非正式制度的核心组成,是影响企业行为的重要因素。基于彩票文化视角,考察了地区文化对企业财务违规的影响,发现地区彩票文化越盛行,个体的冒险倾向和风险容忍度越强,企业财务违规的可能性越大。异质性分析结果表明:当企业面临的业绩压力较大时,彩票文化对企业违规的正向影响更加明显,而良好的治理水平有利于缓解两者之间的关系;彩票文化浓厚的地区,企业财务决策偏于激进,财务信息质量较低。研究成果为规范企业行为、促进资本市场健康发展提供了一定的理论借鉴和实践启示。
As one of the critical components of informal institutions, culture plays an important role in shaping firm behaviors. This paper investigates the impact of lottery culture on firm financial misreporting. The result shows that firms are more likely to have financial misreporting where the lottery culture is more popular, for which increases the individuals’ risk tolerance and boost their appetites for risk-taking. This association is stronger when managers are under greater pressure. Besides, sound governance helps to weaken the above association between the lottery culture and financial misreporting. Moreover, we find that firms are associated with more aggressive financial policies and a lower level of financial information quality in areas with higher lottery culture atmosphere. This paper not only enriches the economic consequences of lottery culture, but also extends the determinants of financial misreporting. The findings have great implications for regulating firm behaviors and promoting the sustainable development of the capital market.
作者
王菁华
WANG Jinghua(School of Accounting,Nanjing Audit University,Nanjing 211815,China;Institute of Intelligence Management Accounting and Internal Control,Nanjing Audit University,Nanjing 211815,China)
出处
《审计与经济研究》
CSSCI
北大核心
2021年第6期70-80,共11页
Journal of Audit & Economics
基金
国家自然科学基金项目(72002105)
江苏高校优势学科建设工程资助项目(PAPD)。
关键词
彩票文化
企业财务违规
彩票消费
业绩压力
冒险倾向
公司治理
lottery culture
enterprise financial misreporting
lottery consumption
performance pressure
adventure preference
corporate governance
