Relationship among Controlling Shareholders’ Condition, Propping Behaviors and Financial Distress’ Evolution Path [an error occurred while processing this directive]
经济经纬
           Jul. 22, 2025 Home      Current Issue      Instruction      Subscription      Advertisement      Contact Us      Message     Chinese
Economic Survey  2015, Vol. 32 Issue (3): 0149    DOI:
Original article Current Issue| Next Issue| Archive| Adv Search [an error occurred while processing this directive] | [an error occurred while processing this directive] 
Relationship among Controlling Shareholders’ Condition, Propping Behaviors and Financial Distress’ Evolution Path
ZHENG Hai-yan
(School of Management, Shanghai Institute of Technology, Shanghai 201418, China)
 Download: PDF (0 KB)   HTML (1 KB)  Export: BibTeX | EndNote (RIS)      Supporting Info
Abstract Based on 378 Chinese corporations in financial distress from 2000 to 2010, this paper uses panel data analysis method to analyze the relationship between propping behaviors of controlling shareholders and the subsequent evolution path of distressed company. The results show that: (1) Firms changing well get more propping from controlling shareholders far more than firms changing badly. (2) Controlling shareholders in good condition give more propping to firms. The state-owned controlling shareholders provide propping to firms because of the "soft budget constraint" and "social cost" constraints, which is good for firms to get rid of financial distress.
Service
E-mail this article
Add to citation manager
E-mail Alert
RSS
Articles by authors
ZHENG Hai-Yan
Key wordsShareholders’ Condition   Deviation of Control Rights and Cash Flow Rights   Propping Behaviors   Financial Distress’ Evolution Path     
Received: 2015-05-07
ZTFLH:  F832  
Cite this article:   
ZHENG Hai-Yan. Relationship among Controlling Shareholders’ Condition, Propping Behaviors and Financial Distress’ Evolution Path. Economic Survey, 2015, 32(3): 0149.
URL:  
http://www.jjjw.org.cn/CN/Y2015/V32/I3/0149
Copyright © 《Chemical Research and Application》Editorial
Support by Beijing Magtech Co.ltd  support@magtech.com.cn