Zhai, Lingling; Tang, Xudong - In: China journal of accounting research : CJAR 16 (2023) 1, pp. 1-24
We investigate the effect of Confucian culture on corporate bond pricing. Using the birthplace data of 56,759 Jinshi in the Ming and Qing dynasties to construct a proxy of Confucian culture, we find a significantly negative relation between Confucian culture and bond pricing: the stronger the...