IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v90y2026ics1544612325025607.html

Financial regulation, capital market stability, and occupational crime

Author

Listed:
  • Yuan, Zixuan
  • Pan, Hao

Abstract

This study investigates the relationship among financial regulation, capital market stability, and occupational crime. Using panel data from Chinese provinces and A-share listed companies for the period 2009–2023, and employing regression analysis, we examine and validate the linkages between financial regulation, capital market stability, and occupational crime. The findings indicate: first, financial regulation significantly reduces the incidence of occupational crime; second, capital market stability plays a mediating role in the relationship between financial regulation and occupational crime; third, financial market maturity also serves as a mediator between financial regulation and occupational crime; fourth, the impact of financial regulation on occupational crime varies across regions with different tax burdens; fifth, the impact of financial regulation on occupational crime differs across regions with varying levels of tertiary sector development.

Suggested Citation

  • Yuan, Zixuan & Pan, Hao, 2026. "Financial regulation, capital market stability, and occupational crime," Finance Research Letters, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:finlet:v:90:y:2026:i:c:s1544612325025607
    DOI: 10.1016/j.frl.2025.109311
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612325025607
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2025.109311?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Zeng, Yanni & Liu, Mengna & Ding, Ashley & Xu, Rui & Zhang, Hao, 2023. "Cultural similarity of non-local independent directors and financial reporting quality," International Review of Financial Analysis, Elsevier, vol. 90(C).
    2. Abdulrhman Alqurayn & Nada Kulendran & Ranjith Ihalanayake, 2024. "An event study of potential insider trading in the Saudi stock market," Cogent Economics & Finance, Taylor & Francis Journals, vol. 12(1), pages 2367368-236, December.
    3. Kai Xing & Enzi Yin & Chu Xiong & Shan Li, 2024. "Environmental Violations and Stock Price Crash Risk: Evidence from Chinese Listed Heavily Polluting Companies," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 60(14), pages 3329-3350, November.
    4. Chengli Zheng & Jiayu Jin & Liyan Han, 2024. "Reduced interest option pricing for green bonds," China Finance Review International, Emerald Group Publishing Limited, vol. 14(2), pages 228-268, May.
    5. Li, Mengru & Huang, Yongjian, 2024. "Financial regulation and financial market stability: Evidence from stock price crash risk," Finance Research Letters, Elsevier, vol. 69(PB).
    6. Edith O. Nwosu & Uchechukwu Nwoke & Collins Chikodi Ajibo & Fochi Nwodo & Ikenna Okoli, 2021. "Mainstreaming whistleblowing as a regulatory mechanism against fraud in Nigeria’s capital market," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 28(4), pages 1008-1021, June.
    7. Xu, Xin & Huang, Shupei & Lucey, Brian M. & An, Haizhong, 2023. "The impacts of climate policy uncertainty on stock markets: Comparison between China and the US," International Review of Financial Analysis, Elsevier, vol. 88(C).
    8. Václav Brož, 2024. "The impact of announcements of regulatory and law enforcement penalties on stock market valuation of US banks from 2000 to 2022," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 32(4), pages 479-500, May.
    9. Jenice Prather-Kinsey & Francesco De Luca & Ho-Tan-Phat Phan, 2022. "Improving the global comparability of IFRS-based financial reporting through global enforcement: a proposed organizational dynamic," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 19(3), pages 330-351, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jiang, Yong & Klein, Tony & Ren, Yi-Shuai & Xiong, Yuan-Kun, 2026. "Green innovation in the face of external uncertainty: Insights from US climate policies," Energy Economics, Elsevier, vol. 153(C).
    2. Wang, Pengmian & Liang, Shuguang, 2025. "Internal audit independence, legal person governance structure, and financial reporting quality," International Review of Economics & Finance, Elsevier, vol. 101(C).
    3. Szczygielski, Jan Jakub & Charteris, Ailie & Obojska, Lidia & Brzeszczyński, Janusz, 2025. "Energy in turmoil: Industry resilience to uncertainty during the global energy crisis," Applied Energy, Elsevier, vol. 389(C).
    4. Lin, Jiayu & Pan, Dongliang & Sha, Yezhou, 2025. "The impact of ESG investment on fund performance: Evidence from mutual fund style drift," Pacific-Basin Finance Journal, Elsevier, vol. 91(C).
    5. Anna Białek-Jaworska & Paulina Szymanek, 2025. "Investors’ reaction to banning IFRS use by domestic firms in alternative market," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 29(2), pages 355-408, June.
    6. Zhang, Xuehua & Zhong, Yun & Liu, Zhenyu & Zhuo, Ye, 2025. "Does dialect similarity affect customer stability: Evidence from corporate trust and friction," International Review of Financial Analysis, Elsevier, vol. 105(C).
    7. Zhao, Zexia & Sun, Licheng, 2025. "How does climate policy uncertainty affect the uncertainty of stock returns of industrial enterprises in typical policy markets? Evidence from China," Finance Research Letters, Elsevier, vol. 86(PD).
    8. Li, Jie & Han, Yingwei, 2025. "Nonlinear hedging climate policy uncertainty: A dynamic mixed copula approach," Economic Modelling, Elsevier, vol. 151(C).
    9. Helen Chiappini & Laura Nieri & Stefano Piser, 2025. "Climate risk and bank lending in South Africa," Working Papers 11086, South African Reserve Bank.
    10. Tao, Lizhu & Jiang, Wenting & Ren, Xiaohang, 2024. "Analyzing the green bond index: A novel quantile-based high-dimensional approach," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    11. Yushu, Kuang & Zongkeng, Li & Rui, Liang, 2024. "Disclosure of internal control evaluation reports of Chinese enterprises: History, problems and strategies," Finance Research Letters, Elsevier, vol. 66(C).
    12. Chen, Yanhua & Sharma, Aarzoo, 2024. "How much does climate-related risk impact stock and commodity markets: A comparative study of the US and China," Finance Research Letters, Elsevier, vol. 62(PA).
    13. Niu, Yan & Du, Dan, 2025. "Comparability of accounting information, financialization level, and corporate stock price crash risk," Finance Research Letters, Elsevier, vol. 85(PE).
    14. Wu, Yuhui & Tian, Yanan & Han, Jie & Zhang, Zhilun, 2025. "Information or power? Financial infrastructure and carbon information disclosure," International Review of Financial Analysis, Elsevier, vol. 106(C).
    15. Hu, Zinan & Borjigin, Sumuya, 2024. "The amplifying role of geopolitical Risks, economic policy Uncertainty, and climate risks on Energy-Stock market volatility spillover across economic cycles," The North American Journal of Economics and Finance, Elsevier, vol. 71(C).
    16. Qiao, Shuo & Xiong, Haoran & Wu, Xiaohan & Zhang, Jing, 2026. "Financial accessibility, digital skills, and family entrepreneurship: Evidence from the China family panel studies (CFPS)," Finance Research Letters, Elsevier, vol. 91(C).
    17. Farhat Aziz Lone & Shalini Aggarwal & Sanjeev Jain, 2026. "Retail Investors’ Perception Towards Green Bonds in Advancing Sustainability: Evidence from India," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 33(1), pages 119-148, March.
    18. Wu, Xian & Chang, Wei, 2026. "Shareholdings by insurance institutions, internal control, and corporate financial robustness," Finance Research Letters, Elsevier, vol. 89(C).
    19. Rangan Gupta & Christian Pierdzioch, 2024. "Climate Policy Uncertainty and Financial Stress: Evidence for China," Working Papers 202428, University of Pretoria, Department of Economics.
    20. Birindelli, Giuliana & Miazza, Aline & Paimanova, Viktoriia & Palea, Vera, 2023. "Just “blah blah blah”? Stock market expectations and reactions to COP26," International Review of Financial Analysis, Elsevier, vol. 88(C).

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:90:y:2026:i:c:s1544612325025607. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.