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

被引：18

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

页码：271 / 284

页数：14

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