Empirical study on the relationship among government holding, asset injection and listed companies performance : evidence from China securities market
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Authors
Zhang, Tao
Huang, Hedy Jiaying
Hooper, Keith
Huang, Hedy Jiaying
Hooper, Keith
Author ORCID Profiles (clickable)
Degree
Grantor
Date
2014
Supervisors
Type
Journal Article
Ngā Upoko Tukutuku (Māori subject headings)
Keyword
asset injection
international corporate governance
private placement of equity
shareholders’ wealth
tunnelling
related party transactions
China securities market
international corporate governance
private placement of equity
shareholders’ wealth
tunnelling
related party transactions
China securities market
ANZSRC Field of Research Code (2020)
Citation
Zhang, T., Huang, J., and Hooper, K. (2014). Empirical study on the relationship among government holding, asset injection and listed companies performance – Evidence from China securities market,. Corporate Ownership & Control Journal, 12(1), pp.169-179
Abstract
This paper aims to investigate the private placement of equity (PPE) by asset injection in China. It analyzes the influence to shareholders’ wealth and performance in the state-holding listed companies and private-holding listed companies. The key findings of this paper are the shareholders’ wealth and performance increased in the short-term, but decreased in long-term after announcement of asset injection by major shareholders. After asset injection, the state-holding listed companies experience larger decline in the long-term shareholders wealth and performance than private-holding listed companies.
Publisher
Virtus Interpress
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Virtus Interpress
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