Research on the Influence Path of Equity Pledge on Enterprise Value—Taking SMEs as an Example
- DOI
- 10.2991/assehr.k.220107.045How to use a DOI?
- Keywords
- equity pledge; enterprise value; influence path; structural equation model
- Abstract
In this paper, we use the structural equation model to analyze the influence path of the pledge of the largest shareholder on the value of the company. The study shows that the degree and scale of the pledge have different effects on the company value, but the total effect is positive. The results show that the equity pledge is beneficial to promoting the company’s value. From the specific path, the direct action path plays a major role. In the indirect action path, the separation of the two rights, the financial risk and the enterprise innovation path, significantly impact the enterprise value. Still, the path of market value management has no significant effect on enterprise value.
- Copyright
- © 2022 The Authors. Published by Atlantis Press SARL.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Jueming Wang AU - Baobao Li PY - 2022 DA - 2022/01/20 TI - Research on the Influence Path of Equity Pledge on Enterprise Value—Taking SMEs as an Example BT - Proceedings of the 4th International Seminar on Education Research and Social Science (ISERSS 2021) PB - Atlantis Press SP - 233 EP - 236 SN - 2352-5398 UR - https://doi.org/10.2991/assehr.k.220107.045 DO - 10.2991/assehr.k.220107.045 ID - Wang2022 ER -