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题名Corporate fraud, risk avoidance, and housing investment in China
作者
发表日期2019-06-01
发表期刊Emerging Markets Review
ISSN/eISSN1566-0141
卷号39页码:18-33
摘要

This study investigates the impact of corporate fraud on household investment choices. We conjecture that by undermining trust in the financial and insurance market, corporate fraud behaviour would decrease households' investment in risky financial assets and increase investment in non-financial assets. Combining data on households' investment behaviour with information on fraudulent activities of listed companies in China, we find that households with more lifetime experience of corporate fraud invest less in stocks and are less likely to purchase private insurance. By contrast, fraud experience increases households' intention to invest in residential real estate. In addition, the impact of corporate fraud is stronger among individuals who pay more attention to economic information, among individuals who have more social interaction, and among individuals in better regulated regions. Furthermore, we find that different types of fraud have differentiated effects on household investment decisions. Our findings indicate that corporate misconduct could generate profound negative externalities on the whole financial system.

关键词China Corporate fraud Household finance Housing investment Negative externality
DOI10.1016/j.ememar.2019.03.003
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收录类别SSCI
语种英语English
WOS研究方向Business & Economics
WOS类目Business, Finance ; Economics
WOS记录号WOS:000472703500002
Scopus入藏号2-s2.0-85063738732
引用统计
被引频次:17[WOS]   [WOS记录]     [WOS相关记录]
文献类型期刊论文
条目标识符https://repository.uic.edu.cn/handle/39GCC9TT/12578
专题个人在本单位外知识产出
通讯作者Fan, Gang-Zhi
作者单位
1.Research Institute of Economics and Management,Southwestern University of Finance and Economics,Chengdu,555 Liutai Avenue, Wenjiang District,611130,China
2.School of Management,Guangzhou University,Guangzhou,230 Wai Huanxi Road, Guangzhou Higher Education Mega Center,510006,China
3.School of Insurance,Southwestern University of Finance and Economics,Chengdu,555 Liutai Avenue, Wenjiang District,611130,China
推荐引用方式
GB/T 7714
Niu, Geng,Yu, Li,Fan, Gang-Zhiet al. Corporate fraud, risk avoidance, and housing investment in China[J]. Emerging Markets Review, 2019, 39: 18-33.
APA Niu, Geng, Yu, Li, Fan, Gang-Zhi, & Zhang, Donghao. (2019). Corporate fraud, risk avoidance, and housing investment in China. Emerging Markets Review, 39, 18-33.
MLA Niu, Geng,et al."Corporate fraud, risk avoidance, and housing investment in China". Emerging Markets Review 39(2019): 18-33.
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