Matches in SemOpenAlex for { <https://semopenalex.org/work/W4362673314> ?p ?o ?g. }
- W4362673314 endingPage "101973" @default.
- W4362673314 startingPage "101973" @default.
- W4362673314 abstract "This study examines the role of ownership concentration, measured by the top-five shareholders' equity ownership, in shaping corporate finance policies in China. Among privately-owned enterprises (POEs), ownership concentration has negative and positive effects on their debt and cash reserves, respectively, consistent with controlling shareholders' incentives to stave off business failures and ride out adverse future circumstances. These effects are more pronounced if POEs have high market-to-book, suggesting that growth opportunities heighten their controlling shareholders' desire to avoid debt and hoard cash. Although ownership concentration has similar effects on debt and cash in state-owned enterprises (SOEs), these effects in SOEs appear to reflect management discretion or conservatism. Our evidence suggests that ownership concentration is a key driver of corporate finance in an emerging market, but private and state ownership concentrations have seemingly similar but qualitatively different consequences." @default.
- W4362673314 created "2023-04-07" @default.
- W4362673314 creator A5017609912 @default.
- W4362673314 creator A5022929675 @default.
- W4362673314 creator A5039787951 @default.
- W4362673314 creator A5091595044 @default.
- W4362673314 date "2023-06-01" @default.
- W4362673314 modified "2023-10-17" @default.
- W4362673314 title "Ownership concentration and financial policy of China's listed firms" @default.
- W4362673314 cites W1523612284 @default.
- W4362673314 cites W1991644057 @default.
- W4362673314 cites W2000578291 @default.
- W4362673314 cites W2004230016 @default.
- W4362673314 cites W2015868718 @default.
- W4362673314 cites W2056698298 @default.
- W4362673314 cites W2066777296 @default.
- W4362673314 cites W2069271085 @default.
- W4362673314 cites W2077401456 @default.
- W4362673314 cites W2101247287 @default.
- W4362673314 cites W2124115302 @default.
- W4362673314 cites W2591612274 @default.
- W4362673314 cites W2591795696 @default.
- W4362673314 cites W2752617332 @default.
- W4362673314 cites W2771944328 @default.
- W4362673314 cites W2772154107 @default.
- W4362673314 cites W2778287781 @default.
- W4362673314 cites W2945074726 @default.
- W4362673314 cites W3121238216 @default.
- W4362673314 cites W3121717661 @default.
- W4362673314 cites W3121720731 @default.
- W4362673314 cites W3121786372 @default.
- W4362673314 cites W3121797308 @default.
- W4362673314 cites W3121847382 @default.
- W4362673314 cites W3122752141 @default.
- W4362673314 cites W3122853031 @default.
- W4362673314 cites W3123091495 @default.
- W4362673314 cites W3123874812 @default.
- W4362673314 cites W3124317644 @default.
- W4362673314 cites W3124477224 @default.
- W4362673314 cites W3124620510 @default.
- W4362673314 cites W3124749863 @default.
- W4362673314 cites W3124830097 @default.
- W4362673314 cites W3125326244 @default.
- W4362673314 cites W3125337127 @default.
- W4362673314 cites W3125353045 @default.
- W4362673314 cites W3125649736 @default.
- W4362673314 cites W3125686936 @default.
- W4362673314 cites W3126058000 @default.
- W4362673314 cites W4229011447 @default.
- W4362673314 doi "https://doi.org/10.1016/j.chieco.2023.101973" @default.
- W4362673314 hasPublicationYear "2023" @default.
- W4362673314 type Work @default.
- W4362673314 citedByCount "1" @default.
- W4362673314 crossrefType "journal-article" @default.
- W4362673314 hasAuthorship W4362673314A5017609912 @default.
- W4362673314 hasAuthorship W4362673314A5022929675 @default.
- W4362673314 hasAuthorship W4362673314A5039787951 @default.
- W4362673314 hasAuthorship W4362673314A5091595044 @default.
- W4362673314 hasConcept C10138342 @default.
- W4362673314 hasConcept C120527767 @default.
- W4362673314 hasConcept C120757647 @default.
- W4362673314 hasConcept C121087249 @default.
- W4362673314 hasConcept C144133560 @default.
- W4362673314 hasConcept C162324750 @default.
- W4362673314 hasConcept C17744445 @default.
- W4362673314 hasConcept C191935318 @default.
- W4362673314 hasConcept C199539241 @default.
- W4362673314 hasConcept C199728807 @default.
- W4362673314 hasConcept C2777506082 @default.
- W4362673314 hasConcept C29122968 @default.
- W4362673314 hasConcept C34447519 @default.
- W4362673314 hasConcept C39389867 @default.
- W4362673314 hasConcept C556758197 @default.
- W4362673314 hasConcept C73283319 @default.
- W4362673314 hasConceptScore W4362673314C10138342 @default.
- W4362673314 hasConceptScore W4362673314C120527767 @default.
- W4362673314 hasConceptScore W4362673314C120757647 @default.
- W4362673314 hasConceptScore W4362673314C121087249 @default.
- W4362673314 hasConceptScore W4362673314C144133560 @default.
- W4362673314 hasConceptScore W4362673314C162324750 @default.
- W4362673314 hasConceptScore W4362673314C17744445 @default.
- W4362673314 hasConceptScore W4362673314C191935318 @default.
- W4362673314 hasConceptScore W4362673314C199539241 @default.
- W4362673314 hasConceptScore W4362673314C199728807 @default.
- W4362673314 hasConceptScore W4362673314C2777506082 @default.
- W4362673314 hasConceptScore W4362673314C29122968 @default.
- W4362673314 hasConceptScore W4362673314C34447519 @default.
- W4362673314 hasConceptScore W4362673314C39389867 @default.
- W4362673314 hasConceptScore W4362673314C556758197 @default.
- W4362673314 hasConceptScore W4362673314C73283319 @default.
- W4362673314 hasFunder F4320321408 @default.
- W4362673314 hasFunder F4320322120 @default.
- W4362673314 hasLocation W43626733141 @default.
- W4362673314 hasOpenAccess W4362673314 @default.
- W4362673314 hasPrimaryLocation W43626733141 @default.
- W4362673314 hasRelatedWork W2040006319 @default.
- W4362673314 hasRelatedWork W2051130526 @default.
- W4362673314 hasRelatedWork W2117912286 @default.