Social governance, financial regulation, and corporate investment efficiency

被引：0

作者：

Gong, Zhongyi ^{[1
]}

He, Pei ^{[2
]}

Sun, Yuyang ^{[3
]}

机构：

[1] Dongguan Univ Technol, Sch Law & Social Work, Dongguan 523000, Guangdong, Peoples R China

[2] Beijing Normal Univ, Sch Govt, Beijing 100091, Peoples R China

[3] Dankook Univ, Coll Art, Yongin 16890, South Korea

来源：

FINANCE RESEARCH LETTERS | 2025年 / 79卷

关键词：

Social governance; Financial regulation; Investment efficiency;

D O I：

10.1016/j.frl.2025.107241

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This article selects data from publicly listed companies between 2011 and 2022 as a sample to explore the impact of social governance levels and financial regulation on corporate investment efficiency. Empirical results show that social governance levels can enhance corporate investment efficiency; financial regulation can improve corporate investment efficiency; there is heterogeneity in the impact of financial regulation on the investment efficiency of state-owned enterprises and private enterprises; and the effect of financial regulation on corporate investment efficiency exhibits a threshold effect, which varies with changes in the company's debt-to-asset ratio.

引用

页数：8

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