摘要
数字司法是现代法治建设的重要组成部分,为企业投资活动提供了制度性保障。以“移动微法院”试点为准自然实验,采用交错双重差分法检验数字司法改革对企业投资的研究发现,“移动微法院”试点显著提高了企业投资水平,这一效应在非国有企业和金融发展水平较低地区的企业中更加显著。机制检验表明,“移动微法院”试点通过提升司法可得性、促进司法公开和提升司法质量,营造了更加公平的制度环境、市场竞争环境和社会信任环境;同时,还改善了企业资本结构并加速其数字化转型。研究阐明了数字司法改革不仅有助于解决纠纷,还能带来显著的经济效应,为实现“法治中国”和“数字中国”战略目标提供了重要思路。
Digital justice is a crucial component of modern legal system construction,providing institutional safeguards for corporate investment activities.Using the staggered pilot rollout of“Mobile Micro Courts”in selected city courts across China between 2017 and 2019 as a quasi-natural experiment,this study employs a staggered difference-in-differences(DID)method to examine the impact of digital justice reform on corporate investment based on data from A-share listed companies from 2010 to 2020.The findings indicate that the pilot of“Mobile Micro Courts”significantly promotes corporate investment,and this result remains robust after a series of endogeneity and robustness tests.The pilot program of“Mobile Micro Courts”significantly enhances judicial accessibility,transparency,and quality.By simplifying filing procedures,enabling cross-regional online litigation,providing real-time case progress updates,and offering intelligent trial assistance,the reform effectively reduces litigation costs,improves case handling efficiency,and strengthens public trust in the judicial system.“Mobile Micro Courts”promote corporate investment through several institutional and market mechanisms.First,by enhancing judicial accessibility and transparency,the reform reduces transaction costs and strengthens investment trust.Firms can complete the entire litigation process online,including filing,evidence submission,hearings,mediation,and enforcement,which effectively mitigates delays caused by case backlogs or unreported disputes.This efficiency improvement lowers procedural costs,enhances legal predictability,and increases investor confidence,particularly for cross-regional investments.Second,the reform strengthens property rights protection and contract enforcement,fostering a fairer market environment.Swift dispute resolution through remote filing,online mediation,and electronic service can rapidly resolve property rights or contractual disputes arising during corporate investment processes,safeguarding corporate assets,ensuring reliable contract execution,and reducing non-productive costs associated with alternative dispute resolution mechanisms.This encourages firms to increase investment and enter into more contracts,optimizing resource allocation between productive and non-productive activities.Third,“Mobile Micro Courts”strengthen creditor protection and improve the financing environment,further stimulating corporate investment.An efficient judicial system increases creditors’trust in legal enforcement,accelerating debt recovery and collateral collection while reducing default risk.Financial institutions,particularly those lending to small and medium-sized enterprises,can thus extend credit more confidently,improving firms’access to financing.Additionally,the reform enhances commercial credit transparency by publicly recording firms’debt and litigation histories,fostering trust across supply chains and broadening access to financing channels.Further analysis reveals that the positive impact of“Mobile Micro Courts”on corporate investment is more pronounced for non-state-owned enterprises and firms in regions with lower financial development.This is because the reform enhances judicial accessibility,transparency,and predictability,effectively alleviating financing constraints and reducing investment risks.Moreover,improvements in the judicial environment also promote optimization of corporate capital structures and drive digital transformation of firms.This study,through the empirical case of“Mobile Micro Courts”,reveals how digital judicial reform supports corporate growth and high-quality development,enriching research on the relationship between judicial reform and financial development.On one hand,it incorporates digital judicial modernization into the economic analysis framework,highlighting its economic effects on corporate investment and providing robust empirical evidence to complement existing literature that primarily focuses on legal studies.On the other hand,it expands research on determinants of corporate investment by demonstrating that improvements in judicial accessibility,transparency,and efficiency can significantly stimulate investment behavior,offering new perspectives for understanding how judicial reforms influence business decision-making.
作者
苗妙
李学尧
何文剑
Miao Miao;Li Xueyao;He Wenjian(School of Economics and Finance,South China University of Technology,Guangzhou 510006,P.R.China;KoGuan Law School,Shanghai Jiao Tong University,Shanghai 200030,P.R.China;Business School,Nanjing University of Information Science and Technology,Nanjing 210044,P.R.China)
出处
《山东大学学报(哲学社会科学版)》
北大核心
2025年第6期80-91,共12页
Journal of Shandong University(Philosophy and Social Sciences)
基金
国家社科基金青年项目“破产司法改革促进金融市场稳定的微观机理与实现路径研究”(24CJL063)
教育部人文社科基金项目“数字赋能背景下的智慧司法与企业创新:机制、效果及制度优化”(22YJC790090)
广东省自然科学基金项目“司法专业化改革赋能企业创新发展:基于专门审判机构设立视角的研究”(2024A1515012251)
江苏省社科基金项目“江苏集体林权制度冲突对森林碳汇的制约机制及协同方案设计研究”(24GLB018)
江苏省教育厅哲学社会科学基金重大项目“面向森林质量提升的集体林权制度冲突效应及其协同机制设计研究”(2024SJZD041)。
关键词
数字司法
移动微法院
企业投资
营商环境
法治中国
Digital justice
Mobile micro courts
Corporate investment
Business environment
Rule of Law in China
