Matches in SemOpenAlex for { <https://semopenalex.org/work/W2792914882> ?p ?o ?g. }
- W2792914882 endingPage "83" @default.
- W2792914882 startingPage "66" @default.
- W2792914882 abstract "Abstract This study investigates the governance role of multiple large shareholders (MLS hereafter) in firms' investment decisions. Using a sample of 1640 Chinese firms listed on the Shanghai or Shenzhen stock markets, we compare the investment efficiency of firms having MLS with that of firms having a single large shareholder and find that the presence and power of MLS are associated with significantly higher investment efficiency. The results are robust after we address endogeneity and sample selection concerns. Further tests show that MLS exert governance mainly through “voice.” MLS tend to lower potential overinvestment and increase future investment performance. The impact of MLS on investment efficiency does not vary with a firm's access to resources and is less prominent in firms with stronger governance and less information asymmetry. Our results imply that MLS play a governance role and alleviate a firm's agency costs and information asymmetry manifested in a firm's investment efficiency." @default.
- W2792914882 created "2018-03-29" @default.
- W2792914882 creator A5019359168 @default.
- W2792914882 creator A5046268298 @default.
- W2792914882 creator A5057389691 @default.
- W2792914882 creator A5065172118 @default.
- W2792914882 date "2018-06-01" @default.
- W2792914882 modified "2023-10-17" @default.
- W2792914882 title "Multiple large shareholders and corporate investment: Evidence from China" @default.
- W2792914882 cites W1791324768 @default.
- W2792914882 cites W1973968415 @default.
- W2792914882 cites W1978282661 @default.
- W2792914882 cites W1983048017 @default.
- W2792914882 cites W1989213637 @default.
- W2792914882 cites W1996213352 @default.
- W2792914882 cites W2001970813 @default.
- W2792914882 cites W2017752325 @default.
- W2792914882 cites W2022275617 @default.
- W2792914882 cites W2032421578 @default.
- W2792914882 cites W2033400055 @default.
- W2792914882 cites W2038690870 @default.
- W2792914882 cites W2041380708 @default.
- W2792914882 cites W2064204457 @default.
- W2792914882 cites W2071206928 @default.
- W2792914882 cites W2081106815 @default.
- W2792914882 cites W2099737377 @default.
- W2792914882 cites W2113942631 @default.
- W2792914882 cites W2120744852 @default.
- W2792914882 cites W2123897018 @default.
- W2792914882 cites W2124115302 @default.
- W2792914882 cites W2133055958 @default.
- W2792914882 cites W2135241016 @default.
- W2792914882 cites W2139122730 @default.
- W2792914882 cites W2149088624 @default.
- W2792914882 cites W2151458238 @default.
- W2792914882 cites W2151794806 @default.
- W2792914882 cites W2162012454 @default.
- W2792914882 cites W2166998582 @default.
- W2792914882 cites W2169194665 @default.
- W2792914882 cites W2171410679 @default.
- W2792914882 cites W2184642986 @default.
- W2792914882 cites W2262194593 @default.
- W2792914882 cites W2591730790 @default.
- W2792914882 cites W2752617332 @default.
- W2792914882 cites W3003883893 @default.
- W2792914882 cites W3021302892 @default.
- W2792914882 cites W3121332075 @default.
- W2792914882 cites W3121494251 @default.
- W2792914882 cites W3121693921 @default.
- W2792914882 cites W3121759882 @default.
- W2792914882 cites W3122494203 @default.
- W2792914882 cites W3122526525 @default.
- W2792914882 cites W3122667725 @default.
- W2792914882 cites W3122701128 @default.
- W2792914882 cites W3122795471 @default.
- W2792914882 cites W3123091495 @default.
- W2792914882 cites W3123504461 @default.
- W2792914882 cites W3123515658 @default.
- W2792914882 cites W3124179860 @default.
- W2792914882 cites W3124478565 @default.
- W2792914882 cites W3124611984 @default.
- W2792914882 cites W3124651905 @default.
- W2792914882 cites W3124663273 @default.
- W2792914882 cites W3124694332 @default.
- W2792914882 cites W3124731333 @default.
- W2792914882 cites W3124737349 @default.
- W2792914882 cites W3125020184 @default.
- W2792914882 cites W3125199115 @default.
- W2792914882 cites W3125293776 @default.
- W2792914882 cites W3125510660 @default.
- W2792914882 cites W3125633749 @default.
- W2792914882 cites W3125653837 @default.
- W2792914882 cites W3125665227 @default.
- W2792914882 cites W3125686936 @default.
- W2792914882 cites W4211116874 @default.
- W2792914882 doi "https://doi.org/10.1016/j.jcorpfin.2018.02.001" @default.
- W2792914882 hasPublicationYear "2018" @default.
- W2792914882 type Work @default.
- W2792914882 sameAs 2792914882 @default.
- W2792914882 citedByCount "132" @default.
- W2792914882 countsByYear W27929148822018 @default.
- W2792914882 countsByYear W27929148822019 @default.
- W2792914882 countsByYear W27929148822020 @default.
- W2792914882 countsByYear W27929148822021 @default.
- W2792914882 countsByYear W27929148822022 @default.
- W2792914882 countsByYear W27929148822023 @default.
- W2792914882 crossrefType "journal-article" @default.
- W2792914882 hasAuthorship W2792914882A5019359168 @default.
- W2792914882 hasAuthorship W2792914882A5046268298 @default.
- W2792914882 hasAuthorship W2792914882A5057389691 @default.
- W2792914882 hasAuthorship W2792914882A5065172118 @default.
- W2792914882 hasConcept C10138342 @default.
- W2792914882 hasConcept C120757647 @default.
- W2792914882 hasConcept C121955636 @default.
- W2792914882 hasConcept C144133560 @default.
- W2792914882 hasConcept C162324750 @default.
- W2792914882 hasConcept C17744445 @default.
- W2792914882 hasConcept C191935318 @default.