The Impact Of The Institutional Environment On The Non-ethical Behaviors Of Listed Companies

While China's economy is developing at high speed,it is also inevitably faced with various social and ethical issues(such as corporate non-ethical behaviors,etc.)that have occurred in the course of Western economic development.In recent years,corporate scandals caused by corporate non-ethical behaviors have emerged in an endless stream.Corporate non-ethical behaviors have become the focus of attention in the academic community.The existing researches pay much attention to the internal perspectives of the companies themselves and the external environment.However,the research based on the institutional environment is still obviously deficient.China is currently in an important period of market-oriented reforms and the transformation of government functions.This paper will focus on Chinese macroscopic national conditions,and study the formation and prevention of corporate non-ethical behaviors with the perspective of the state system and that of the relationship between the government and the market.The paper will also provide useful thinking on the research of corporate non-ethical behaviors in China.This paper seeks to enrich the research of corporate non-ethical behaviors with the perspective of institutional environment.At the same time,combining the macroscopic background of the current marketization reform and the transformation of government functions,this paper analyzes the characteristics of corporate non-ethical behaviors under the conditions of China's transitional economy.First,it sorts out the relevant theories involved and the relevant research of domestic and foreign scholars,then analyzes the status of violations of listed companies in China and the trend of change in recent years.With the above information,this paper comprehensively uses the perspective of the macroscopic system and that of the relationship between the government and market to establish the research model,and puts forward research hypotheses in the end.Considering the feasibility of the index measurement and the purpose of the research,we collected the data of 1,078 listed companies in Chinese A-share market from 2001 to 2009.Finally,we tested the hypotheses with an empirical model.The main empirical results are as follows: In terms of main effects,the local government intervention in the economy will significantly increase the risk of non-ethical behaviors of listed companies in the region.As far as regulatory effects are concerned,the degree of market-oriented reforms and the efficiency of the government will significantly curb the government intervention in breeding non-ethical behaviors of listed companies.However,the enlargement of the size of government will significantly increase the main effect of government intervention on the non-ethical behaviors of listed companies.This paper introduces the theory of system anomie into the study of corporate non-ethical behaviors in the context of China's economic transformation.It will not only provide a new perspective for the study of the antecedents of non-ethical behaviors,but also will make positive contribution to preventing the non-ethical issues of Chinese enterprises.