Abstract
Customer concentration and corporate violations are two important research areas of corporate governance, but there are few studies that combine the customer concentration and corporate violations. The research in this paper finds that customer concentration has two effects on corporate violations: financial distress effects and governance effect. At the same time, through further analysis, it is found that the nature of property rights of enterprises will also have an impact on the relationship between the customer concentration and corporate violations.
Highlights
The healthy development of the capital market and the improvement of the real economy are inseparable from the standardized operation of listed companies
The research in this paper finds that customer concentration has two effects on corporate violations: financial distress effects and governance effect
Through the literature review of this paper, we can conclude that domestic and foreign research still lacks research on customer concentration and corporate violations, and future research can be further studied in this area
Summary
The healthy development of the capital market and the improvement of the real economy are inseparable from the standardized operation of listed companies. F. Qian aims to actively promote listed companies standardize operation and healthy development, to fight against all kinds of violations of laws and regulations, to maximize the protection of the legitimate rights and interests of small and medium investors. In April 29, 2011, the China Securities Regulatory Commission announced the “Administrative Disclosure Rules for Information Disclosure” aimed at guiding and supervising the issuer, the listed company and its controlling shareholder, actual controller, purchaser and other information disclosure obligors to fulfill their information disclosure obligations in accordance with law and protect the legitimate rights and interests of investors. The solicitation draft stipulated six major illegal delisting situations, which is basically about the information disclosure fraud and other violations of laws and regulations. Customer concentration is one of the hot topics in corporate customer research today; customer concentration refers to the ratio of the oper-
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