Share pledging for seasoned equity offerings? Evidence from China

被引：1
|
作者：
Liu, Desu [1 ]
Fang, Ziqiao [1 ]
机构：
[1] Nanjing Univ, Sch Business, Dept Finance & Insurance, Nanjing, Peoples R China
来源：
APPLIED ECONOMICS LETTERS | 2023年 / 30卷 / 09期
关键词：
Share pledging; loans; seasoned equity offering; largest shareholders;
D O I：
10.1080/13504851.2022.2044008
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We investigate an unexplored channel through which pledged loans are exploited by the most influential firm insiders in China. Specifically, we document a significant and positive relationship between net pledging by the largest shareholder before a seasoned equity offering and her cash subscription to that very offering.
引用
收藏
页码：1244 / 1247
页数：4
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