Awe culture and corporate social security contributions

Feng Yun and Meng Xu

Finance Research Letters, 2024, vol. 67, issue PB

Abstract: Despite their diverse backgrounds and histories, different countries and regions unanimously share the same awe culture that emphasizes family values and the sanctity of life. Using induced abortion in China's various provinces to measure the decline in awe culture, we find that a decrease in awe culture reduces corporate social security. Mechanism tests show that an increase in managers’ opportunism and risk preferences serve as underlying mechanisms.

Keywords: Awe culture; Social security contributions; Abortion; Managers’ opportunism; Risk preferences (search for similar items in EconPapers)
JEL-codes: G32 K42 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:67:y:2024:i:pb:s1544612324009656

DOI: 10.1016/j.frl.2024.105935

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