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

页码：1244 / 1247

页数：4

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