Sanctions Shock and Corporate Risk:A Study Based on the US Control List against China
In recent years,the US government has imposed various economic sanctions on Chinese enterprises,sig-nificantly disrupting their operations and growth.This paper systematically identifies A-share listed companies affected by these sanctions,utilizing financial statement data from 2003 to 2020 and the sanctions lists released by various US federal government departments.Through an empirical analysis,this study examines the micro-level risk effects of US sanctions from the perspective of corporate risk.The findings reveal that while US sanctions increase corporate risk via channels such as overseas business operations,innovation performance,and market perception,strong product competi-tiveness,high levels of research and development,and government support can mitigate these risks.This research en-hances the capital market's understanding of the risks posed by sanctions and provides valuable insights for enterprises,markets,and government agencies on how to navigate economic sanctions,aiding companies in proactive risk manage-ment.
NETL
NSTL
万方数据
