所属栏目:公司金融/政府政策与监管

摘要

Chinese companies have a distinctive feature by embedding Communist Party of China (CPC) into governance structure. In this study, we examine the impact of embedded CPC governance on disclosure quality in Chinese private firms. We find that embedded CPC governance improves disclosure quality. We also document that internal control mediates the relationship between embedded CPC governance and disclosure quality. Further analyses show that our results are pronounced for private firms with greater peer pressure, stronger industry competition, and poorer information environments. Overall, our findings aid our understanding of the role of embedded CPC in influencing disclosure practices in private enterprises.
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Yu Qin; Xiaoyan Cheng; Zongyan Li Embedded CPC Governance and Disclosure Quality: Evidence from Chinese Private Firms (2024年03月28日) http://www.cfrn.com.cn/lw/15610.html

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