6058 
4184经济运行依托于特定的社会制度,然而中国经济的高速增长难以从正式制度的角度理解。因而,文章旨在探索宗教作为一种非正式制度安排对微观经济运行所发挥的作用,并进一步研究了非正式制度与正式制度之间的交互作用对公司行为的影响。文章手工收集了2001年至2012年A股上市公司注册地附近重点寺庙的个数,并采用自由现金流对过度投资的反应系数衡量投资活动的代理冲突,检验了宗教氛围是否影响了公司投资活动中所有者与管理者之间的代理冲突。结果显示公司的宗教氛围与代理冲突之间存在显著的负相关关系,说明宗教氛围有助于抑制投资的代理冲突。进一步,研究发现正式的制度环境负向调节了宗教氛围对代理冲突的抑制作用。
宗教氛围与投资中的代理冲突——基于上市公司附近寺庙数的实证研究
摘要
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引用本文
曾泉, 裴红梅. 宗教氛围与投资中的代理冲突——基于上市公司附近寺庙数的实证研究[J]. 上海财经大学学报, 2016, 18(1): 35–49.
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