The Impact of Controlling Shareholders' Share Pledge on Enterprise's Innovation Investment-Evidence from Listed Firms in Coastal Region of China

被引：1
|
作者：
Yang, Kezhi [1 ]
Li, Mengyu [1 ]
Suo, Lingling [2 ]
机构：
[1] Beijing Technol & Business Univ, Business Coll, Beijing 100048, Peoples R China
[2] Beijing Union Univ, Business Coll, Beijing 100025, Peoples R China
来源：
JOURNAL OF COASTAL RESEARCH | 2020年
关键词：
Share pledge; controlling shareholder; enterprise innovation;
D O I：
10.2112/JCR-SI107-092.1
中图分类号：
X [环境科学、安全科学];
学科分类号：
08 ; 0830 ;
摘要：
Utilizing the data of A-share listed companies in Chinese coastal areas from 2008 to 2017, this paper empirically analyses the relationship between the pledge of controlling shareholders' equity and the enterprise innovation. The results show that: (1) Controlling shareholders' share pledge will restrain innovation investment, but this negative impact will only play a role when the share pledge rate is high; (2) After subdividing the nature of property rights, it is found that the restraint of controlling shareholders' share pledge on enterprise innovation is more significant in coastal non-state-owned enterprises than in state-owned enterprises.
引用
收藏
页码：408 / 412
页数：5
相关论文
共 50 条
  • [31] Do controlling shareholders share pledging affect goodwill impairment? Evidence from China
    Li, Yanxi
    Ouyang, Shanshan
    INTERNATIONAL JOURNAL OF ACCOUNTING AND INFORMATION MANAGEMENT, 2021, 29 (05) : 793 - 822
  • [32] Research on the influence of network embeddedness on innovation performance: Evidence from China's listed firms
    Boxu, Yang
    Xingguang, Li
    Kou, Kou
    JOURNAL OF INNOVATION & KNOWLEDGE, 2022, 7 (03):
  • [33] Corporate strategic aggression and environmental investment decisions: Evidence from A-share listed firms
    Zhang, Xinyuan
    Wu, Jiangqiu
    Nor, Mohammad Nazri Bin Mohd
    Quah, Chee Heong
    INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2024, 95
  • [34] Intelligent Manufacturing and Green Innovation-Evidence from China's Listed Manufacturing Firms
    Xu, Xiaoshu
    Pan, Jiangpei
    Meng, Xuechen
    SUSTAINABILITY, 2024, 16 (23)
  • [35] Regional fintech development, financing constraints, and enterprise innovation: evidence from China's A-share non-financial listed companies
    Li, Weizheng
    Wang, Zhengwen
    TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT, 2024,
  • [36] The Impact of High-Tech Enterprise Certification on Green Innovation: Evidence from Listed Companies in China
    Liang, Zhiqiang
    Shen, Yao
    Yang, Kunyu
    Kuang, Jinsong
    SUSTAINABILITY, 2025, 17 (01)
  • [37] The impact of digital innovation on labor share: Evidence from Chinese firms
    Liu, Tingyu
    Huang, Peng
    Wang, Qiaoru
    INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2025, 99
  • [38] Impact of Economic Policy Uncertainty on Agribusiness Technology Innovation: Evidence from 231 Listed Firms in China
    Li, Lanlan
    Gao, Yanlei
    Wang, Xiudong
    SUSTAINABILITY, 2023, 15 (13)
  • [39] Non-controlling shareholders' network and excess goodwill: Evidence from listed companies in China
    Fu, Shaozheng
    Yang, Jinkun
    Liu, Jiajia
    Hu, Guoqiang
    INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2024, 96
  • [40] Controlling shareholder's share pledging and annual report tone management: empirical evidence from Chinese listed firms
    Cao, Shaopeng
    Di, Lulu
    Sun, Yuan
    EUROPEAN JOURNAL OF FINANCE, 2025,
12345