Foreign strategic ownership and minority shareholder protection
被引:8
作者:
Anderson, Hamish
论文数: 0引用数: 0
h-index: 0
机构:
Massey Univ, Sch Econ & Finance, Manawatu Campus,Private Bag 11-222, Palmerston North 4410, New ZealandMassey Univ, Sch Econ & Finance, Manawatu Campus,Private Bag 11-222, Palmerston North 4410, New Zealand
Anderson, Hamish
[1
]
Chi, Jing
论文数: 0引用数: 0
h-index: 0
机构:
Massey Univ, Sch Econ & Finance, Manawatu Campus,Private Bag 11-222, Palmerston North 4410, New ZealandMassey Univ, Sch Econ & Finance, Manawatu Campus,Private Bag 11-222, Palmerston North 4410, New Zealand
Chi, Jing
[1
]
Liao, Jing
论文数: 0引用数: 0
h-index: 0
机构:
Massey Univ, Sch Econ & Finance, Manawatu Campus,Private Bag 11-222, Palmerston North 4410, New ZealandMassey Univ, Sch Econ & Finance, Manawatu Campus,Private Bag 11-222, Palmerston North 4410, New Zealand
Liao, Jing
[1
]
机构:
[1] Massey Univ, Sch Econ & Finance, Manawatu Campus,Private Bag 11-222, Palmerston North 4410, New Zealand
We show foreign strategic investors provide monitoring protection, by reducing tunneling through intercorporate loans. Further, foreign strategic investors mitigate minority shareholders expropriation through controlling excessive borrowing, whereas firms without foreign-founders channel excessive borrowing to controlling shareholders using intercorporate loans. The monitoring benefits are greater when corporate governance is weaker, and when foreign strategic investors are from English common law countries. Compared to foreign investor proxies typically used in Chinese studies, we use foreign-founder shareholders. As foreign-founders are long-term investors facing high liquidity risk, they are highly motivated to actively monitor and influence firm behaviours.
机构:
Univ British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, CanadaUniv British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
Bena, Jan
;
Ferreira, Miguel A.
论文数: 0引用数: 0
h-index: 0
机构:
Nova Sch Business & Econ, Campus Campolide, P-1099032 Lisbon, PortugalUniv British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
Ferreira, Miguel A.
;
Matos, Pedro
论文数: 0引用数: 0
h-index: 0
机构:
Univ Virginia, Darden Sch Business, Charlottesville, VA 22903 USAUniv British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
Matos, Pedro
;
Pires, Pedro
论文数: 0引用数: 0
h-index: 0
机构:
Nova Sch Business & Econ, Campus Campolide, P-1099032 Lisbon, PortugalUniv British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
机构:
Nanjing Univ, Nanjing, Peoples R ChinaHong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Hong Kong, Peoples R China
Chen, Donghua
;
Jian, Ming
论文数: 0引用数: 0
h-index: 0
机构:
Nanyang Technol Univ, Singapore, SingaporeHong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Hong Kong, Peoples R China
Jian, Ming
;
Xu, Ming
论文数: 0引用数: 0
h-index: 0
机构:
Hong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Hong Kong, Peoples R ChinaHong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Hong Kong, Peoples R China
机构:
Univ South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USAUniv South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USA
Chen, Ruiyuan
;
论文数: 引用数:
h-index:
机构:
El Ghoul, Sadok
;
Guedhami, Omrane
论文数: 0引用数: 0
h-index: 0
机构:
Univ South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USA
Sungkyunkwan Univ, SKIM Business Sch, 25-2 Sungkyungkwan Ro, Seoul 110745, South KoreaUniv South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USA
Guedhami, Omrane
;
Wang, He
论文数: 0引用数: 0
h-index: 0
机构:
Renmin Univ China, Beijing, Peoples R ChinaUniv South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USA
机构:
Univ British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, CanadaUniv British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
Bena, Jan
;
Ferreira, Miguel A.
论文数: 0引用数: 0
h-index: 0
机构:
Nova Sch Business & Econ, Campus Campolide, P-1099032 Lisbon, PortugalUniv British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
Ferreira, Miguel A.
;
Matos, Pedro
论文数: 0引用数: 0
h-index: 0
机构:
Univ Virginia, Darden Sch Business, Charlottesville, VA 22903 USAUniv British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
Matos, Pedro
;
Pires, Pedro
论文数: 0引用数: 0
h-index: 0
机构:
Nova Sch Business & Econ, Campus Campolide, P-1099032 Lisbon, PortugalUniv British Columbia, Sauder Sch Business, 2053 Main Mall, Vancouver, BC V6T 1Z2, Canada
机构:
Nanjing Univ, Nanjing, Peoples R ChinaHong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Hong Kong, Peoples R China
Chen, Donghua
;
Jian, Ming
论文数: 0引用数: 0
h-index: 0
机构:
Nanyang Technol Univ, Singapore, SingaporeHong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Hong Kong, Peoples R China
Jian, Ming
;
Xu, Ming
论文数: 0引用数: 0
h-index: 0
机构:
Hong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Hong Kong, Peoples R ChinaHong Kong Polytech Univ, Sch Accounting & Finance, Hong Kong, Hong Kong, Peoples R China
机构:
Univ South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USAUniv South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USA
Chen, Ruiyuan
;
论文数: 引用数:
h-index:
机构:
El Ghoul, Sadok
;
Guedhami, Omrane
论文数: 0引用数: 0
h-index: 0
机构:
Univ South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USA
Sungkyunkwan Univ, SKIM Business Sch, 25-2 Sungkyungkwan Ro, Seoul 110745, South KoreaUniv South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USA
Guedhami, Omrane
;
Wang, He
论文数: 0引用数: 0
h-index: 0
机构:
Renmin Univ China, Beijing, Peoples R ChinaUniv South Carolina, Moore Sch Business, 1014 Greene St, Columbia, SC 29208 USA