Acts of financial misconduct in business affect firms in many negative ways. Therefore, why do certain misdemeanants repeatedly commit these acts? We suggest that financial misdemeanants with different social networks will perceive the costs and benefits of committing financial frauds differently, thereby affecting the likelihood of committing financial frauds in the future. To be specific, we suggest that politically connected misdemeanants are less likely to recommit financial frauds, while misdemeanants at interlock network center are more likely to recommit financial frauds. In addition, we propose that misdemeanants are less likely to recommit financial frauds when their partners in the interlock network community are punished for financial frauds. To test our theory, we collected panel data from Chinese listed firms from 2005 to 2014 and employed event history analysis (EHA).

中文翻译：

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从金融轻罪到累犯：社交网络的视角

商业中的财务不当行为以许多负面的方式影响着公司。因此，为什么某些不法行为会反复实施这些行为？我们建议，具有不同社交网络的金融不端行为会以不同的方式感知实施金融欺诈的成本和收益，从而影响未来实施金融欺诈的可能性。具体而言，我们建议政治相关的轻罪不太可能再次实施财务欺诈，而互锁网络中心的轻罪更可能再次实施财务欺诈。此外，我们提出，当互锁网络社区中的合作伙伴因财务欺诈而受到惩罚时，轻罪者不太可能再次实施财务欺诈。为了检验我们的理论，