东华大学学报(英文版)

2020, v.37(02) 173-180

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Corporate Litigation, Reputation and Top Executive Turnover—Considering the Moderating Roles of Political and Legal Conditions
Corporate Litigation, Reputation and Top Executive Turnover—Considering the Moderating Roles of Political and Legal Conditions

王璐;赵晓康;

摘要(Abstract):

With the rapid development of China's economy, more and more listed companies have to face frequent corporate litigation. As corporate lawsuits are on the rise, it is necessary to study the measures taken by the company when a corporate litigation occurs. Some scholars' research indicates that top executive turnover may be one of the countermeasures, but few scholars have discussed this issue in the Chinese market. Our research uses 13 435 samples of Chinese market, takes the company's reputation as an observing point, and studies the relationship between corporate litigation and top executive turnover. In addition, due to the special political environment and the large differences in the legal environment between different provinces in China, we have further explored the moderating role of political conditions and legal conditions. It is worth mentioning that our empirical research method is the propensity score matching(PSM), and by this way we can easily avoid sample selectivity bias. Finally, a robust experimental conclusion is obtained: corporate litigation and top executive turnover are significantly positively correlated, and this correlation will be adjusted by political and legal conditions. Our research enriches the field of corporate litigation and also have certain guiding significance for the social construction of the rule of law in China.

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作者(Author): 王璐;赵晓康;

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