据FM官网显示,来自中央财经大学的彭章、北京大学的施新政、西班牙货币金融研究中心的Junyan Yu,合作的论文“Echoes of insecurity: The detrimental effect of crime on corporate employment”在国际金融学权威顶刊《Financial Management》线上正式发表。
Title: Echoes of insecurity: The detrimental effect of crime on corporate employment
不安全感的回响:犯罪对企业就业的有害影响
彭章
中央财经大学
施新政
北京大学
Junyan Yu
西班牙货币金融研究中心(CEMFI)
This study investigates the influence of local crime on corporate employment in China. Leveraging a comprehensive data set of 85 million court judicial documents, we construct city-level crime measures. We find that local crime is negatively associated with corporate employment. Using China's Gang Crime Crackdown program as a quasi-natural experiment and the difference-in-differences approach, we further identify the causal relationship. Violent crimes and those with longer sentences drive the negative correlation between local crime and corporate employment. This relation is particularly pronounced among low-skilled employees, in cities with inadequate commuter security, and in financially constrained firms. Our findings emphasize the role of a secure social environment in the local labor market and firms' employment decisions.
这项研究调查了中国本地犯罪对企业就业的影响。利用8500万份全面的法院司法文件数据集,我们构建了城市级别的犯罪度量。我们发现本地犯罪与企业就业呈负相关。利用中国的打击团伙犯罪计划作为准自然实验和差异-差异方法,我们进一步确定了因果关系。暴力犯罪和那些刑期较长的犯罪推动了本地犯罪与企业就业之间的负相关。这种关系在低技能员工中尤为明显,在通勤安全不足的城市和财务受限的公司中尤为突出。我们的发现强调了安全的社会环境在本地劳动力市场和公司就业决策中的作用。
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