Abstract
Using moderation and mediation analyses, we examine when and how a concentrated ownership structure might benefit minority shareholders in China’s stock markets. Our findings suggest that a moderate level of ownership concentration in Chinese private companies enhances earnings informativeness, leading not only to increased profitability but also to greater incorporation of information into share prices. However, this relationship weakened after the market crash in 2015.
| Original language | English |
|---|---|
| Pages (from-to) | 71-82 |
| Number of pages | 12 |
| Journal | Journal of Asset Management |
| Volume | 26 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 12 Dec 2024 |
Free Keywords
- Earnings informativeness
- Moderation and mediation analysis
- Ownership concentration
ASJC Scopus subject areas
- Business and International Management
- Strategy and Management
- Information Systems and Management
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