Abstract:

The existence of a short selling mechanism not only affects the governance structure of listed companies but also has a profound impact on the production behavior of enterprises. In this study, the impact of the short selling mechanism on the safety production of state-owned enterprises and its mechanism were investigated from the perspective of a predeterrent effect through the manual sorting of safety production data of A-share state–owned listed companies from 2011 to 2021. The study found that the short selling mechanism helps reduce the number of deaths and injuries among state–owned enterprise employees, promotes safe production in state-owned enterprises, and that the impact is more pronounced in enterprises in regions with lower marketization and lower government attention to safety. Further analysis reveals that the short selling mechanism can contribute to the safe production of state–owned enterprises through internal corporate governance channels. The conclusion of this paper not only helps deepen the understanding of the consequences of the short selling mechanism but also provides useful insights for relevant departments and state-owned enterprises to manage and prevent production safety accidents.

Key words:

short selling, enterprise production safety, internal corporate governance, state-owned enterprise