Insider Ownership, Subsidiary Cash Holdings, and Economic Consequences: Evidence from Listed Chinese Companies

Using a large sample of listed Chinese companies, we investigate how the equity ownership of business group insiders affects subsidiary cash holdings. We find that ownership by the largest shareholders and senior managers in the listed parent firm is negatively related to its subsidiaries' cash...

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Veröffentlicht in:	Emerging markets finance & trade 2015-01, Vol.51 (sup1), p.S174-S195
Hauptverfasser:	Zhang, Huili, Lu, Zhengfei, Zhang, Ran, Jiang, Guohua
Format:	Artikel
Sprache:	eng
Schlagworte:	Business ownership cash holdings Cash management economic consequences efficiency loss insider ownership internal capital market Losses Parent companies Studies Subsidiaries
Online-Zugang:	Volltext
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