方言对投资的影响研究
首发时间:2019-01-23
摘要:本文结合时下研究热点,利用所收集的高管出生地数据,结合《汉语方言大词典》,识别出上市公司CEO所属方言种类,并基于萨丕尔-沃尔夫假说和不同方言所代表的特定地域文化,以2010-2017年我国A股上市公司为研究样本,实证检验了上市公司CEO所属方言片区的差异对所在企业投资行为的影响。结果发现,不同方言片区的CEO有着不同的投资行为。总体而言,吴方言片区、粤方言片区和闽方言片区的CEO对企业的总投资规模和投资效率有显著的正向影响,来自晋方言片区的CEO对企业的总投资规模和投资效率有显著负向影响。来自粤方言片区CEO的投资行为最为激进,晋方言片区CEO的投资行为最为保守。本文是对"文化与金融"微观研究的丰富与补充,为上市公司投资异化现象提供了一个新的分析视角。
For information in English, please click here
A Study on the Impact of Dialect on Investment
Abstract:Combined with the current research hotspots, using the collected data of the birthplace of the CEO, searched the "Chinese dialect dictionary" to identify the CEO of listed company belongs to the dialect category, and based on the Sapir - Wolf hypothesis and different dialects represent the specific Regional culture, this paper empirically test the influence of the dialect differences between CEOs to the investment behavior of the listed companies in China based on the sample of A-share listed companies in China from 2010 to 2017.The results show that the CEOs from different dialects have different investment characters. Overall, CEOs of Wu dialect area, Yue dialect area and Min dialect area had a significant positive impact on the total investment scale and investment efficiency of the enterprise, while CEOs from Jin dialect area had a significant negative impact on the total investment scale and investment efficiency of the enterprise. The CEO\'s investment behavior in the area of Yue dialect was the most aggressive, and that in the area of Jin dialect was the most conservative.This article is an enrichment and supplement to the microcosmic study of "culture and finance", and provides a new analytical perspective for investment alienation.
Keywords: accounting dialect culture investment
基金:
引用
No.****
同行评议
勘误表
方言对投资的影响研究
评论
全部评论0/1000