This study aims to empirically investigate the impact of establishing bankruptcy courts on corporate bankruptcy risk using a difference-in-differences model. The findings reveal that the establishment of these courts significantly reduces corporate bankruptcy risk. Additionally, the study explores the underlying mechanism through which bankruptcy courts affect this risk, suggesting that they effectively mitigate it by promoting technological innovation and enhancing enterprises' risk tolerance. Furthermore, the study examines the varying impact of bankruptcy courts on corporate bankruptcy risk across different ownership structures and levels of market competition.

中文翻译：

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破产法院的设立是否会影响公司倒闭的风险？


本研究旨在使用双重差分模型实证调查建立破产法院对公司破产风险的影响。研究结果显示，这些法院的设立大大降低了公司破产风险。此外，本研究探讨了破产法院影响破产风险的潜在机制，建议破产法院通过促进技术创新和增强企业的风险承受能力来有效缓解破产风险。此外，该研究还考察了破产法院在不同所有权结构和市场竞争水平下对公司破产风险的不同影响。