Dividend from subsidiaries and the agency cost of business groups
The subsidiary’s profit distribution results in the cash transfer from the subsidiary to the parent company. We investigate the effect of this cash transfer on the business group’s agency cost. Using the sample of A-share listed companies in China from 2006 to 2017, we find that the profits distribu...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2021-07-01
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| Series: | China Journal of Accounting Studies |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/21697213.2021.2009176 |