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Regional criminal offense rates, labor mobility, and firms’ financial generosity

Author

Listed:
  • Wan, Hua
  • Zhang, Chunli
  • Huang, Chang
  • Wang, Yan

Abstract

Considering macroeconomic data, this paper focuses on Chinese A-share listed firms from 2011 to 2020 and analyzes the relationship between regional criminal offense rates and corporate financial generosity. Specifically, this paper reveals that regional criminal offense rates improve corporate financial generosity by leading to labor outflows. Nevertheless, heterogeneity exists in the impact of the policy above. The executive team's legal and financial backgrounds and stock ownership can mitigate the impacts of regional crime rates on corporate financial generosity. However, executive remuneration incentives can worsen the issue.

Suggested Citation

  • Wan, Hua & Zhang, Chunli & Huang, Chang & Wang, Yan, 2024. "Regional criminal offense rates, labor mobility, and firms’ financial generosity," Finance Research Letters, Elsevier, vol. 65(C).
    • Handle: RePEc:eee:finlet:v:65:y:2024:i:c:s1544612324005981
    DOI: 10.1016/j.frl.2024.105568
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    References listed on IDEAS

    as
    1. Jonathan Meer & Benjamin A. Priday, 2021. "Generosity Across the Income and Wealth Distributions," National Tax Journal, University of Chicago Press, vol. 74(3), pages 655-687.
    2. Jin, Xiao Meng & Mai, Yong & Cheung, Adrian Wai Kong, 2022. "Corporate financialization and fixed investment rate: Evidence from China," Finance Research Letters, Elsevier, vol. 48(C).
    3. repec:eme:mfppss:mf-12-2020-0606 is not listed on IDEAS
    4. Zhenghui Li & Fanqi Zou & Yong Tan & Jinhui Zhu, 2021. "Does Financial Excess Support Land Urbanization—An Empirical Study of Cities in China," Land, MDPI, vol. 10(6), pages 1-17, June.
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    Cited by:

    1. Wei, Mingyu & Li, Jinke, 2026. "Does social health insurance portability promote rural labor migration? Evidence from health care reform in China," International Review of Financial Analysis, Elsevier, vol. 109(C).

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