This paper investigates whether religious traditions influence firm-specific crash risk in China.Using a sample of A-share listed firms from 2003 to 2013,we provide evidence that the more intense the religious environ...This paper investigates whether religious traditions influence firm-specific crash risk in China.Using a sample of A-share listed firms from 2003 to 2013,we provide evidence that the more intense the religious environment,the lower the stock price crash risk,implying that religion plays an important role in Chinese corporate governance.Further,we find that(1) religion affects stock price crash risk by reducing earnings management and the management perk problem;(2) different religions have different effects,and Taoism,in particular,is unrelated to crash risk; and(3) the effects of religion are more pronounced with higher quality corporate governance and a stronger legal environment.Religion constrains the management agency problem,thus reducing stock price crash risk in China.Our paper enriches the literature on stock price crash risk and religion,and on new economic geography.展开更多
Conservation of environmental resources and divine merits does not mean the absence of exploitation or the minimal use of it, but to use it optimally and seamlessly. Therefore, awareness and education in the field of ...Conservation of environmental resources and divine merits does not mean the absence of exploitation or the minimal use of it, but to use it optimally and seamlessly. Therefore, awareness and education in the field of environmental ethics can have a spiritual guarantee in the light of faith and piety;considering the religious teachings and the experiences of the executives and officials of the Islamic Revolution that become more colorful topics such as environmental justice, environmental ethics, environmental degradation, health and optimal consumption. The expansion of morality is considered to be in the context of human-environmental relations as a revolutionary opportunity and an environmental imperative. In fact, the interests of man are in balance with the interests of other beings;as a result, there are solutions to protect the inhumane community against human harm. In this project, we used of library methods, review and integration on the basis of articles and environmental studies. The results of this study indicate that there is a relationship between religious beliefs and revolutionary approaches to the environment and environmental ethics. The mentioned verses and narratives, the leadership’s recommendations all emphasize on environmental protection;and authorities have done this knowledge and information in the best way to raise the level of education. The results of the research show the upward trend in the environment after the Islamic Revolution in the process of approving and drafting laws.展开更多
基金supported by the National Natural Science Foundation of China(Project Nos.7137215171502040+1 种基金715702041971332004)
文摘This paper investigates whether religious traditions influence firm-specific crash risk in China.Using a sample of A-share listed firms from 2003 to 2013,we provide evidence that the more intense the religious environment,the lower the stock price crash risk,implying that religion plays an important role in Chinese corporate governance.Further,we find that(1) religion affects stock price crash risk by reducing earnings management and the management perk problem;(2) different religions have different effects,and Taoism,in particular,is unrelated to crash risk; and(3) the effects of religion are more pronounced with higher quality corporate governance and a stronger legal environment.Religion constrains the management agency problem,thus reducing stock price crash risk in China.Our paper enriches the literature on stock price crash risk and religion,and on new economic geography.
文摘Conservation of environmental resources and divine merits does not mean the absence of exploitation or the minimal use of it, but to use it optimally and seamlessly. Therefore, awareness and education in the field of environmental ethics can have a spiritual guarantee in the light of faith and piety;considering the religious teachings and the experiences of the executives and officials of the Islamic Revolution that become more colorful topics such as environmental justice, environmental ethics, environmental degradation, health and optimal consumption. The expansion of morality is considered to be in the context of human-environmental relations as a revolutionary opportunity and an environmental imperative. In fact, the interests of man are in balance with the interests of other beings;as a result, there are solutions to protect the inhumane community against human harm. In this project, we used of library methods, review and integration on the basis of articles and environmental studies. The results of this study indicate that there is a relationship between religious beliefs and revolutionary approaches to the environment and environmental ethics. The mentioned verses and narratives, the leadership’s recommendations all emphasize on environmental protection;and authorities have done this knowledge and information in the best way to raise the level of education. The results of the research show the upward trend in the environment after the Islamic Revolution in the process of approving and drafting laws.
