The Influence of Common Ownership on Corporate Default Risk

DOI

10.2991/978-2-38476-277-4_3How to use a DOI?

Keywords

Common ownership; Default risk; Financial constraints; Agency problems

Abstract

With the frequent occurrence of default events, how to reduce the corporate default risk has become the focus of researches. Therefore, from the view of common owernship, we focuse on whether and how common owners reduce default risks. We study listed companies in China from 2010 to 2022 and find that common ownership are significantly negative with default risk. Mechanism analysis shows that common ownership take their resource, information and governance advantages to reduce financial constraints and agency problems, leading to reduced default risk.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Yupei Zhang
AU  - Xiaoshun Guo
PY  - 2024
DA  - 2024/09/02
TI  - The Influence of Common Ownership on Corporate Default Risk
BT  - Proceedings of the 2024 10th International Conference on Humanities and Social Science Research (ICHSSR 2024)
PB  - Atlantis Press
SP  - 13
EP  - 19
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-38476-277-4_3
DO  - 10.2991/978-2-38476-277-4_3
ID  - Zhang2024
ER  -