دانلود مقاله ISI انگلیسی شماره 96646
ترجمه فارسی عنوان مقاله

فضای مذهبی و هزینه سرمایه متعلق به: شواهد از چین

عنوان انگلیسی
Religious atmosphere and the cost of equity capital: Evidence from China
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
96646 2018 19 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : China Journal of Accounting Research, Available online 16 February 2018

ترجمه کلمات کلیدی
فضای مذهبی، هزینه سرمایه متعلق به، رابطه تکمیلی، اثر میانجی،
کلمات کلیدی انگلیسی
Religious atmosphere; Cost of equity capital; Complementary relationship; Mediation effect;
پیش نمایش مقاله
پیش نمایش مقاله  فضای مذهبی و هزینه سرمایه متعلق به: شواهد از چین

چکیده انگلیسی

The cost of equity capital (ICC) is a crucial component of investment decisions and corporate performance evaluations. This study explores the effect of a region’s religious atmosphere on ICC and finds that ICC tends to be lower when stronger religious atmosphere is created. We further use the mediation effect method to clarify the specific channel through which religious atmosphere reduces ICC, and find that earnings quality, corporate investment efficiency and corporate social responsibility partially mediate the effect of religious atmosphere on ICC. Moreover, the relationship between religious atmosphere and ICC is more pronounced in firms with stronger external law environments and higher audit quality, indicating that formal institutions and religious tradition complement each other.