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Awe culture and corporate social security contributions

Author

Listed:
  • Yun, Feng
  • Xu, Meng

Abstract

Despite their diverse backgrounds and histories, different countries and regions unanimously share the same awe culture that emphasizes family values and the sanctity of life. Using induced abortion in China's various provinces to measure the decline in awe culture, we find that a decrease in awe culture reduces corporate social security. Mechanism tests show that an increase in managers’ opportunism and risk preferences serve as underlying mechanisms.

Suggested Citation

  • Yun, Feng & Xu, Meng, 2024. "Awe culture and corporate social security contributions," Finance Research Letters, Elsevier, vol. 67(PB).
    • Handle: RePEc:eee:finlet:v:67:y:2024:i:pb:s1544612324009656
    DOI: 10.1016/j.frl.2024.105935
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    More about this item

    Keywords

    Awe culture; Social security contributions; Abortion; Managers’ opportunism; Risk preferences;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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