3966 
4048法治是治国理政的基本方式，而法官异地交流则是新时代依法治国的一项重要举措。文章将中国省级高院院长异地任职交流活动作为准自然实验情境，考察诉讼风险对资本结构的影响，结果显示，法官异地交流会增加公司的诉讼风险，引发公司增加财务灵活性的动机，从而降低公司目前的债务水平。文章使用双重差分方法的检验结果也表明，诉讼风险导致公司债务水平降低了4.67%；特别是当公司所在行业的诉讼率较高、所在地市场化程度较低以及面临的融资约束程度较大时，诉讼风险对其债务水平的负向影响更大。这一研究结果不仅从公司财务决策的角度为法官异地交流的经济后果提供了新的经验证据，而且对于国家依法治国战略与提高司法公正性具有一定的启示意义。
诉讼风险与公司资本结构——基于法官异地交流的准自然实验
摘要
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引用本文
陈胜蓝, 王璟, 李然. 诉讼风险与公司资本结构——基于法官异地交流的准自然实验[J]. 上海财经大学学报, 2020, 22(2): 69-80.
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