This study analyses all A-share listed companies from 2015 to 2020 to empirically examine the impact of inquiry supervision on corporate value and the moderating influence of corporate social responsibility(CSR)on thi...This study analyses all A-share listed companies from 2015 to 2020 to empirically examine the impact of inquiry supervision on corporate value and the moderating influence of corporate social responsibility(CSR)on this relationship.Research has shown that inquiry supervision significantly reduces corporate value,and the corporate social responsibility previously performed by companies can weaken this negative impact.Furthermore,the heterogeneity test based on internal and external controls shows that the reputation protection effect of CSR is more significant for companies with a higher proportion of independent directors,companies with a higher proportion of institutional investors investing in stocks,regions with a higher degree of marketization,and regions with a higher level of rule of law.The research in this article validates the effectiveness of reputation protection and verifies that reputation protection,as an informal mechanism,is easier to fulfil a role in areas where formal mechanisms are perfect.In other words,formal and informal mechanisms appear to complement each other.These findings provide empirical insights into the governance of CSR.展开更多
It has been 53 years since the first volume of Acta Veterinaria et Zootechnica Sinica(Chinese Journal of Animal and Veterinary Sciences,CJAVS)was published.The Journal has earned its reputation by presenting high-leve...It has been 53 years since the first volume of Acta Veterinaria et Zootechnica Sinica(Chinese Journal of Animal and Veterinary Sciences,CJAVS)was published.The Journal has earned its reputation by presenting high-level academic and instructive papers,technical reports,and achievements in Chinese,but its influence is still limited to its primary audience,in China.In recent years,international trade of animals and their products have expanded,展开更多
基金supported by the National Natural Science Foundation of China(72293573)the New Era Education Quality Project of Anhui Province(2022zyxwjxalk003)the Fundamental Research Funds for the Central Universities(YD2160004004,WK2040000090).
文摘This study analyses all A-share listed companies from 2015 to 2020 to empirically examine the impact of inquiry supervision on corporate value and the moderating influence of corporate social responsibility(CSR)on this relationship.Research has shown that inquiry supervision significantly reduces corporate value,and the corporate social responsibility previously performed by companies can weaken this negative impact.Furthermore,the heterogeneity test based on internal and external controls shows that the reputation protection effect of CSR is more significant for companies with a higher proportion of independent directors,companies with a higher proportion of institutional investors investing in stocks,regions with a higher degree of marketization,and regions with a higher level of rule of law.The research in this article validates the effectiveness of reputation protection and verifies that reputation protection,as an informal mechanism,is easier to fulfil a role in areas where formal mechanisms are perfect.In other words,formal and informal mechanisms appear to complement each other.These findings provide empirical insights into the governance of CSR.
文摘It has been 53 years since the first volume of Acta Veterinaria et Zootechnica Sinica(Chinese Journal of Animal and Veterinary Sciences,CJAVS)was published.The Journal has earned its reputation by presenting high-level academic and instructive papers,technical reports,and achievements in Chinese,but its influence is still limited to its primary audience,in China.In recent years,international trade of animals and their products have expanded,
