Administrative penalties and corporate resilience

Taige Li, Liang Zhao and Jingyi Guo

International Review of Economics & Finance, 2024, vol. 95, issue C

Abstract: This study examines the intrinsic relationship between administrative penalties and corporate resilience through an empirical analysis of Chinese A-share listed companies. The findings reveal that administrative penalties have a detrimental effect on corporate resilience. However, factors such as financial status, internal control quality, and nature of property rights exhibit heterogeneity in their impact on corporate resilience in the face of administrative penalties. Furthermore, moderating variables, including corporate financing costs, corporate reputation, and operational risks, play significant roles in this process.

Keywords: Administrative penalties; Corporate resilience; Heterogeneity; Moderating effect (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:95:y:2024:i:c:s1059056024004416

DOI: 10.1016/j.iref.2024.103449

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