发表状态 | 已发表Published |
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
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ISSN/eISSN | 1566-0141 |
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 |
DOI | 10.1016/j.ememar.2019.03.003 |
URL | 查看来源 |
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 | |
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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