Mixed ownership reforms and the transparency of nonstate-owned enterprises: Evidence from China

被引：15
|
作者：
Zhao, Yueyang [1 ,2 ]
Mao, Jinzhou [2 ]
机构：
[1] Jilin Univ, Ctr China Publ Sect Econ Res, Changchun, Peoples R China
[2] Jilin Univ, Sch Econ, Changchun 130012, Peoples R China
来源：
MANAGERIAL AND DECISION ECONOMICS | 2023年 / 44卷 / 01期
关键词：
FIRM PERFORMANCE EVIDENCE; CORPORATE GOVERNANCE; INVESTOR ATTENTION; STATE; INFORMATION; EARNINGS; QUALITY; POLICY;
D O I：
10.1002/mde.3679
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper takes Chinese Shanghai and Shenzhen A-share nonstate-owned listed companies from 2008 to 2019 as samples to study the impact and mechanism of state-owned capital participation on the transparency of nonstate-owned enterprises. The results show that state-owned capital participation has a significant positive impact on the transparency of nonstate-owned enterprises. In terms of the mechanism of action, state-owned capital participation positively impacts corporate transparency by increasing investors' attention. Further research finds that the positive effect of state-owned capital participation on foreign-funded enterprises and enterprises with few financing constraints is more prominent.
引用
收藏
页码：271 / 284
页数：14
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