Why do many a-share listed companies eagerly disclose food safety information in China?—from the perspective of financing constraints

Suyun Chen, Yiping Wu, Xinyi Shi, Hengyun Ma and Ruifeng Liu

Applied Economics, 2020, vol. 52, issue 51, 5653-5666

Abstract: Recently, many listed food companies have started to eagerly disclose their food safety information; the question is, why? This study empirically tests the impacts of food safety information disclosure (FSID) on corporate financing constraints using a panel dataset. The results show that FSID is negatively correlated with equity financing constraint, while its degree is negatively correlated with debt financing constraint. FSID has a larger influence on the financing constraints of state-owned enterprises. Therefore, the standardized FSID is conducive to establishing a mechanism connecting an enterprise with government supervision, and to forming a bottom-up information transmission path in food safety production.

Date: 2020
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DOI: 10.1080/00036846.2020.1770193

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