Study on Identification and Market Reaction of Different Types of Hypocritical Behavior in Enterprises
In order to explore whether the hypocrisy of enterprises can be identified by the market,two kinds of hypocrisy are summarized by literature research method:ignoring employee hypocrisy and financial fraud hypocrisy.This paper manually col-lected the stock price information of corporate donation events of China 's A-share listed companies from 2015 to 2021,and ana-lyzed the stock market's response to the hypocrisy of two kinds of enterprises through the event research method.The results show that ignoring employee hypocrisy has a positive impact on stock prices,while financial fraud hypocrisy has a negative impact on stock prices;China's market can identify financial fraud hypocrisy,but not employee hypocrisy.This conclusion not only pro-vides new evidence that China's stock market has not achieved reasonable self-consistency and effective governance,but also has practical significance for shareholders to optimize investment decisions and regulatory authorities to improve market efficiency.
hypocrisymarket responseemployee responsibilitiesfinancial fraudevent study methods
NETL
NSTL
万方数据
