The impact of tax on listed companies in China A-share market

2011 ◽  
Author(s):  
Xiao Xianyu
Keyword(s):  
Listed Companies ◽  
The Impact ◽  
A Share

An Empirical Study of Equity Incentive on the Stock Valuation of Tobacco Companies

2021 ◽  
Vol 7 (5) ◽  
pp. 2392-2400
Author(s):  
Chen Huaitao ◽  
Deng Yanhong
Keyword(s):  
Positive Impact ◽  
Reference Value ◽  
Listed Companies ◽  
Stock Valuation ◽  
Cross Sectional ◽  
Equity Incentives ◽  
Regulatory Commission ◽  
The Impact ◽  
Equity Incentive ◽  
A Share

Objectives: Since the China Securities Regulatory Commission (CSRC) issued the Measures for the Administration of Equity Incentives of Listed Companies, the equity incentives of A-share listed companies have become normalized, the discussion of the effect of the implementation of equity incentives on stock valuation can provide a reference for investors whether to choose listed companies with equity incentives for stock valuation. This paper uses python tool to select 30 A-share listed companies that formally started to implement equity incentives in 2018 and the proportion of equity incentives is between 4% and 6% as the sample, and uses cross-sectional data model for empirical analysis. The empirical results show that: first, the implementation of equity incentive in Chinese listed companies has a positive impact on stock valuation, and the impact of equity incentive on stock valuation is significantly better than that before implementation, and the incentive stocks have more investment value; Second, the conclusion is also suitable for Chinese tobacco related companies, which has important reference value for tobacco preference investors.

Will conjugal relationship affect the corporate innovation? – Empirical evidence from a-share listed family business in China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yupeng Xu ◽  
Bo Cheng ◽  
Fei Pan
Keyword(s):  
Empirical Evidence ◽  
Family Business ◽  
Family Firms ◽  
Listed Companies ◽  
Content Type ◽  
Positive Effects ◽  
Family Enterprises ◽  
Enterprise Innovation ◽  
The Impact ◽  
A Share

Purpose Few studies have focused on the impact of conjugal control and non-conjugal control on the innovation capability of family firms. In the context of the relative lack of research on the relationship between family firm heterogeneity and innovation ability, this study aims to focus on the differentiated impact of husband–wife-controlled family listed companies and non-husband–wife-controlled family listed companies on their innovation capabilities, which provides empirical evidence with more Chinese institutional and cultural characteristics for the development of corporate organizational management and innovation theories. Design/methodology/approach Taking all A-share listed family firms from 2007 to 2016 as the research sample, this paper examines the influence of spousal control on firm innovation level by empirical research method. Findings The empirical results show that compared with non-spousal-controlled family enterprises, spousal-controlled family enterprises have significant positive effects on the level of enterprise innovation. Further studies suggest that joint management of spousal-controlled family enterprises improves the level of innovation. Authority difference of the couple will weaken the innovation capacity. However, the wife’s professional skills can promote the innovation level. Originality/value Focusing on the characteristics of family internal structure and embedding marriage relationship in the enterprise organization, this paper investigates the influence of different characteristics of husband and wife and cooperation mode on enterprise innovation, and the conclusion enriches the theory of family business and family science, as well as provides important information reference for the stakeholder groups in the capital market.

scholarly journals The impact on the equity value of listed companies pledge - A Case Study of La Chapelle

2021 ◽  
Vol 275 ◽  
pp. 01077
Author(s):  
Fang Liu
Keyword(s):  
Listed Company ◽  
Rapid Development ◽  
Listed Companies ◽  
Bank Loans ◽  
Securities Market ◽  
Object A ◽  
Equity Value ◽  
The Impact ◽  
A Share

With the rapid development of China’s securities market, bank loans as an important channel of enterprise financing has been unable to meet the capital needs of most enterprises, this article is based on the A-share main board listed company and equity pledge ratio as the research object, a case study of rashabel’s equity. It is concluded that the value of the company is inversely proportional to the proportion of the allocated equity. We should distribute equity reasonably, balance the power among shareholders, so as to improve the efficiency of governance and strengthen the supervision of large shareholders.

scholarly journals Financing Constraints and Stock Price Volatility Empirical Evidence from Shanghai and Shenzhen A-share listed Companies

2021 ◽  
Vol 235 ◽  
pp. 01029
Author(s):  
Xuan Xiang ◽  
Fei Dong ◽  
Junxiu Chen
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Price Volatility ◽  
Listed Companies ◽  
Practical Significance ◽  
Financing Constraints ◽  
Cross Sectional ◽  
Stock Price Volatility ◽  
The Impact ◽  
A Share

Based on the theoretical analysis of financing constraints and stock price volatility, the hypothesis of “corporate financing constraints inhibiting corporate stock price volatility” is proposed. After data cleaning, the cross-sectional data based on A-share was used to make an empirical analysis of the relationship between financing constraints and stock price volatility of listed companies in 2018 through regression model. The study found that when companies relax financing constraints, due to widespread overinvestment, the stock price of companies will fluctuate more. In addition, we have shown that by replacing the return of financing constraint indicators and the regression of subsamples based on enterprise size, market type and ownership, the conclusion of the study is more robust. The research reveals the mechanism of the impact of financing constraints on the volatility of corporate stock prices. The conclusions have practical significance for investors, corporations and relevant regulatory authorities.

scholarly journals Financial Excesses and Executive Compensation Stickiness

2020 ◽  
Vol 214 ◽  
pp. 03030
Author(s):  
Gan Shengdao ◽  
Liang Yang ◽  
Huang Jintao
Keyword(s):  
Property Rights ◽  
Executive Compensation ◽  
Listed Companies ◽  
Local State ◽  
Central State ◽  
The Impact ◽  
Positive Effect ◽  
A Share

This research selects China A-share listed companies from 2007-2018 as the research sample, and empirically tests the impact of financial excesses and property rights on the executive compensation stickiness. This study finds that financial excesses have a significant regulating effect on executive compensation stickiness, and the degree of stickiness regulation for enterprises with different property rights is quite different. Financial excesses inhibit executive compensation stickiness in local-state-owned enterprises and non-state-owned enterprises, but have a positive effect when it happens in central-state-owned enterprises

scholarly journals Can Managing Overseas Experience Improve Investment Efficiency

2021 ◽  
Vol 14 ◽  
pp. 108-122
Author(s):  
Yuchao Zhou ◽  
Caixia Zhou
Keyword(s):  
Empirical Analysis ◽  
Listed Companies ◽  
Investment Efficiency ◽  
Empirical Results ◽  
Corporate Executives ◽  
The Impact ◽  
The Empirical Analysis ◽  
A Share

The efficient investment of enterprises is inseparable from the professional ability of managers. It has been found that the overseas experience of corporate executives can improve the investment ability of managers.This paper takes Shanghai and Shenzhen A-share listed companies from 2004 to 2020 as the research object, and investigates whether managers' overseas experience can improve the investment efficiency of enterprises. The empirical analysis results show that enterprises with overseas managers can improve the phenomenon of over investment, but the impact on the underinvestment is not significant.Based on the empirical results, it is found that the characteristics of managerial returnees have different impacts on enterprises in different industries. Compared with export-oriented enterprises, the characteristics of managerial returnees have more significant impacts on export-oriented enterprises.The reason for these results may be that managers' overseas experience is more conducive to the development of non-export-oriented enterprises.

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