Religious Culture and Corporate Agency Costs1

DOI

10.2991/assehr.k.200207.016How to use a DOI?

Keywords

religious culture, agency conflict, corporate governance, agency cost

Abstract

Solving the agency problem caused by the separation of the two powers is an important part of the protection of investors’ interests, and it is also the only way to promote the healthy development of capital markets and enterprises in emerging market countries. This paper takes the Shanghai and Shenzhen A-share listed companies from 2000 to 2018 as a sample to examine the relationship between religious culture, corporate governance and agency costs. The research results show that religious culture and effective corporate governance mechanism can reduce the agency cost and improve agency efficiency, and different corporate governance mechanisms play different roles in different religious and cultural environments. The conclusion of this study means that under the circumstances that there are many problems in corporate governance in China’s capital market, religious culture can effectively make up for the shortcomings of corporate governance, effectively solve agency problems and reduce agency costs.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Zhi-Qiang Liu
AU  - Zhi-Ning Pan
PY  - 2020
DA  - 2020/02/17
TI  - Religious Culture and Corporate Agency Costs1
BT  - Proceedings of the International Academic Conference on Frontiers in Social Sciences and Management Innovation (IAFSM 2019)
PB  - Atlantis Press
SP  - 99
EP  - 106
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.200207.016
DO  - 10.2991/assehr.k.200207.016
ID  - Liu2020
ER  -