Proceedings of the 2nd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2023)

<Previous Article In Volume
Next Article In Volume>

Controlling Shareholder Pledging and Firm’s Default Risk — Evidence from China

Authors
Kun Wang1, *, Hailong Chen1, Jun Liu1
1Research Institute of China Telecom Corporation Limited, Penglaiyuan South Street, Changping District, 102209, Beijing, China
*Corresponding author. Email: wangk30@chinatelecom.cn
Corresponding Author
Kun Wang
Available Online 10 August 2023.
DOI
10.2991/978-94-6463-198-2_109How to use a DOI?
Keywords
controlling shareholder; equity pledge; default risk; state-owned enterprise
Abstract

Using a unique setting of Chinese A-share listed companies, we investigate the relationship between controlling shareholder pledging and firm’s default risk. We find that both the existence of controlling shareholder pledging and the proportion of pledges in listed companies have a significant negative relationship with the default risk. This negative relationship is stronger among non-state-owned enterprises.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

<Previous Article In Volume
Next Article In Volume>
Volume Title
Proceedings of the 2nd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2023)
Series
Atlantis Highlights in Computer Sciences
Publication Date
10 August 2023
ISBN
10.2991/978-94-6463-198-2_109
ISSN
2589-4900
DOI
10.2991/978-94-6463-198-2_109How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Kun Wang
AU  - Hailong Chen
AU  - Jun Liu
PY  - 2023
DA  - 2023/08/10
TI  - Controlling Shareholder Pledging and Firm’s Default Risk — Evidence from China
BT  - Proceedings of the 2nd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2023)
PB  - Atlantis Press
SP  - 1053
EP  - 1067
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-198-2_109
DO  - 10.2991/978-94-6463-198-2_109
ID  - Wang2023
ER  -