Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

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Controlling SHAreholder's Equity Pledge and Share Repurchase Preview

Authors
JiaNi Xie1, *, LiMei Cao1
1Department of Accounting, Guangdong University of Finance &Economics, Guangzhou, Guangdong, China
*Corresponding author. Email: 3022526662@qq.com
Corresponding Author
JiaNi Xie
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_196How to use a DOI?
Keywords
Equity Pledge; Share Repurchase Forecast; DIsclosure Quality.; Power Balance with Shareholder Structure
Abstract

With the growth of equity pledge scale, enterprises are constantly exploring risk resolution methods. After the revision of the company law in 2018, the conditions for share repurchase were gradually relaxed, and the number of listed companies announcing the implementation of share repurchase increased rapidly. The pledge of controlling shareholders' equity will not only change the behavior of controlling shareholders, but also affect the share repurchase behavior of listed companies.This paper uses controlling shareholders' equity pledges as a perspective to explore whether the demands of major shareholders to maintain the security of control of listed companies in China affect the probability of listed companies to issue share repurchase forecasts. Using Chinese A-share listed companies from 2012 to 2019 as a sample, the conclusions of this paper are as follows: controlling shareholder equity pledges significantly increase the probability of listed companies issuing share repurchase forecasts, and that the above relationship is affected by the quality of company information disclosure and power balance with shareholder structure.

Copyright
© 2022 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.

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Volume Title
Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
978-94-6463-036-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_196How to use a DOI?
Copyright
© 2022 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  - JiaNi Xie
AU  - LiMei Cao
PY  - 2022
DA  - 2022/12/31
TI  - Controlling SHAreholder's Equity Pledge and Share Repurchase Preview
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 1330
EP  - 1339
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_196
DO  - 10.2991/978-94-6463-036-7_196
ID  - Xie2022
ER  -