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110为提升地区司法质量，最高人民法院自2015年起分批设立地方巡回法庭。本文借助这一准自然实验，实证考察了地区司法水平提升对企业自愿披露的影响。研究结果表明，巡回法庭的设立显著降低了企业年报相似度，提高了信息含量和自愿披露质量。机制分析显示，巡回法庭通过破解地方保护主义，并发挥威慑和治理效应，促进企业提升自愿披露质量。进一步研究发现，这一效果在初始外部治理环境较差、信息质量较低、诉讼成本较高的企业中更为显著，且对改善企业披露的内部相似性和横向相似性均有积极影响。此外，巡回法庭的设立还有助于抑制企业的收益操纵行为。本研究不仅丰富了“法与金融”领域的文献，也为司法改革及其经济后果提供了新的视角和实证依据。
司法改善与年报披露相似性——来自我国巡回法庭准自然实验的经验证据
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引用本文
周胜娣, 蓝发钦. 司法改善与年报披露相似性——来自我国巡回法庭准自然实验的经验证据[J]. 外国经济与管理, 2025, 47(3): 53-69.
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