| Does Religion Matter to Owner-Manager Agency Costs? Evidence from China | |
| Xingqiang Du ; Du XQ(杜兴强) | |
| 2012-12-07 | |
| 关键词 | Religion Buddhism Taoism Owner-manager agency costs Expense ratio Asset utilization ratio External monitoring mechanisms Business ethics China |
| 英文摘要 | 杜兴强教授，2001年毕业于厦门大学会计系，获博士学位，并留校任教，现为厦门大学会计系教授、博士生导师；2004年入选教育部首届新世纪优秀人才计划；2006、2010年先后获教育部霍英东高等院校青年教师基金、霍英东高等院校青年教师奖一等奖，兼任第十届全国青联委员、福建省青联常委。曾主持国家自然科学基金、社会科学基金项目多项；作为主要贡献者获得国家级教学成果二等奖、教育部人文社科优秀成果一等奖、福建省社会科学一等奖等。; In China, Buddhism and Taoism are two major religions. Using a sample of 10,363 firm-year observations from the Chinese stock market for the period of 2001–2010, I provide strong and robust evidence that religion (i.e., Buddhism and Taoism on the whole) is significantly negatively associated with owner-manager agency costs. In particular, using firm-level religion data measured by the number of religious sites within a radius of certain distance around a listed firm’s registered address, I find that religion is significantly negatively (positively) associated with expense ratio (asset utilization ratio), the positive (reverse) proxy for owner-manager agency costs. This finding is consistent with the following view: religiosity has remarkable effects on the way how an individual thinks and behaves, and thereof can curb managers from unethical business practices. Moreover, my findings suggest that the negative association between religion and owner-manager agency costs is attenuated for firms with strong external monitoring mechanisms such as higher Marketization and high-quality auditors. Furthermore, after separating Buddhism from Taoism, my finding indicates that above conclusions are only available for Buddhism, suggesting that different religions may have asymmetric influence on owner-manager agency costs. Above results are robust to various measures of religiosity and a variety of robustness checks. |
| 语种 | 英语 |
| 出版者 | Springer Netherlands |
| 内容类型 | 期刊论文 |
| 源URL | [http://dx.doi.org/10.1007/s10551-012-1569-y]  |
| 专题 | 管理学院－已发表论文 |
| 推荐引用方式 GB/T 7714 | Xingqiang Du,Du XQ. Does Religion Matter to Owner-Manager Agency Costs? Evidence from China[J],2012. |
| APA | Xingqiang Du,&杜兴强.(2012).Does Religion Matter to Owner-Manager Agency Costs? Evidence from China.. |
| MLA | Xingqiang Du,et al."Does Religion Matter to Owner-Manager Agency Costs? Evidence from China".(2012). |
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