Exacerbate or alleviate? impact of controlling shareholders' share pledging on over-investment
This paper investigates the relationship between controlling shareholders' share pledging and firm level over-investment. Utilizing Chinese A-share market data spanning 2007–2020, we find that firms with share pledging by controlling shareholders are more prone to over-invest, and the over-inve...
| Main Authors: | , , , , |
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| Format: | Article |
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Elsevier
2024
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