IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v63y2024ics154461232400432x.html
   My bibliography  Save this article

Anti-trust law, financing advantage and common prosperity within firms

Author

Listed:
  • Yan, Shen
  • Mao, Chunxiao
  • Ma, Wanrong

Abstract

The Anti-trust Law, which embodies the principles of an "active government" and an "efficient market", plays a significant role in shaping the initial income distribution of enterprises and realizing common prosperity. Based on the Chinese A-share listed firms, this study reveals that enforcing the Anti-trust Law impacts labour income, labour income share, and the income disparity within firms with higher monopolistic power. The improvement is primarily due to the Anti-trust Law's influence on the composition of factors, resulting in a more equitable and competitive market environment for debt and equity, reducing the financing advantage enjoyed by highly monopolistic enterprises.

Suggested Citation

  • Yan, Shen & Mao, Chunxiao & Ma, Wanrong, 2024. "Anti-trust law, financing advantage and common prosperity within firms," Finance Research Letters, Elsevier, vol. 63(C).
    • Handle: RePEc:eee:finlet:v:63:y:2024:i:c:s154461232400432x
    DOI: 10.1016/j.frl.2024.105402
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S154461232400432X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2024.105402?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Nanak Kakwani & Xiaobing Wang & Ning Xue & Peng Zhan, 2022. "Growth and Common Prosperity in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(1), pages 28-57, January.
    2. Su, Yiyi & Song, Jialin & Lu, Ying & Fan, Di & Yang, Miles, 2023. "Economic poverty, common prosperity, and underdog entrepreneurship," Journal of Business Research, Elsevier, vol. 165(C).
    3. Guihua Wang & Quan Guo & Qiong Jiang & Butong Li, 2022. "A Study on the Relationship between Corporate Social Responsibility and Supply Chain Profit Distribution in the Context of Common Prosperity," Sustainability, MDPI, vol. 14(19), pages 1-18, September.
    4. Liu, Yang & Dong, Xiucheng & Dong, Kangyin, 2023. "Pathway to prosperity? The impact of low-carbon energy transition on China's common prosperity," Energy Economics, Elsevier, vol. 124(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yu, Shengsheng & Jin, Hang & Jin, Chunhua & Huang, Jian & Li, Jianliang & Wang, Bin, 2025. "How is merchant gang culture conducive to increasing enterprises’ common prosperity?," Finance Research Letters, Elsevier, vol. 76(C).
    2. Hu, Wentao & Zou, Rui & Liu, Tie, 2025. "How does the anti-monopoly policy affect firms' investment preference?," International Review of Economics & Finance, Elsevier, vol. 101(C).
    3. Li, Tongbin & Gao, Juan, 2025. "Social security contributions, labor income share, and corporate innovation," Finance Research Letters, Elsevier, vol. 77(C).
    4. Gou, Xuezhen & Wang, Shuai, 2025. "How does the anti-trust policy stimulate firms' product market competitiveness? Evidence from the implementation of the Anti-trust Law," Finance Research Letters, Elsevier, vol. 77(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Di Mao & Jiakeng Chen, 2025. "Does the university knowledge spillover promote common prosperity? Empirical evidence from China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-11, December.
    2. Zhao, Mengxue & Chan, Hon S., 2024. "Balancing through agglomeration: A third path to sustainable development between common prosperity and carbon neutrality in China," Technological Forecasting and Social Change, Elsevier, vol. 208(C).
    3. Liu, Yang & Du, Junying & Wang, Kun, 2024. "Towards common prosperity: The role of mitigating energy inequality," Energy Policy, Elsevier, vol. 195(C).
    4. Li Meiyi & Gan Yufei, 2025. "More Philanthropy, More Consistency? Examining the Impact of Corporate Charitable Donations on ESG Rating Uncertainty," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 19(1), pages 1-21.
    5. Yang, Yuan & Wang, Baomin & Su, Xingyu, 2024. "Judicial quality and corporate ESG performance: Evidence from the establishment of circuit courts," Finance Research Letters, Elsevier, vol. 65(C).
    6. Shuguang Liu & Zhiyan Zeng & Yawen Kong, 2025. "The Impact of New Quality Productive Forces on Common Prosperity: Evidence from Chinese Cities," Sustainability, MDPI, vol. 17(17), pages 1-26, August.
    7. Lyu, Jiayu & Li, Lu & Liu, Yuqi & Deng, Qian, 2025. "Promoting common prosperity: How do digital capability and financial literacy matter?," International Review of Financial Analysis, Elsevier, vol. 97(C).
    8. Luo, Hang (Robin) & Yan, Dawei, 2025. "Inclusive financial development and common prosperity: An empirical analysis using individual-level data," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 261-274.
    9. Guo, Dong & Li, Lin & Pang, Guoguang, 2024. "How does digital inclusive finance affect county's common prosperity: Theoretical and empirical evidence from China," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 340-358.
    10. Fields, Gary S. & Meng, Xin & Song, Yang, 2022. "Earnings mobility during labor market reforms in urban China," China Economic Review, Elsevier, vol. 75(C).
    11. Zhenhua Hu & Gaohui Song & Ziyue Hu & Bo Zhang & Ting Lin, 2023. "How to promote the balanced development of urban and rural China? Evidences from reallocating idle rural residential land of Zhejiang province, China," PLOS ONE, Public Library of Science, vol. 18(6), pages 1-15, June.
    12. Chishti, Muhammad Zubair & Xia, Xiqiang & Dogan, Eyup, 2025. "Corrigendum to “Understanding the effects of artificial intelligence on energy transition: The moderating role of Paris Agreement” [Energy Economics Volume 131, March 2024, 107388]," Energy Economics, Elsevier, vol. 142(C).
    13. Sha Liu & Yiting Zhang & Junping Wang & Danlei Feng, 2025. "Internet usage, farmer entrepreneurship, and common prosperity: evidence from a large micro-data in China," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-16, December.
    14. Anson Au, 2023. "Reassessing the econometric measurement of inequality and poverty: toward a cost-of-living approach," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-10, December.
    15. Lu Wang & Ziying Zhao & Xiaojun Xu & Xiaoli Wang & Yuting Wang, 2025. "How Does the Construction of New Generation of National AI Innovative Development Pilot Zones Affect Carbon Emissions Intensity? Empirical Evidence from China," Sustainability, MDPI, vol. 17(15), pages 1-26, July.
    16. Hou, Xin & Gao, Jianbo, 2025. "Toward Common Prosperity: Measuring decrease in inequality in China prefecture-level cities," Structural Change and Economic Dynamics, Elsevier, vol. 72(C), pages 29-46.
    17. Hongxiang Zhao & Meiyan Li, 2023. "Study on Joint Distribution Mode and Evolutionary Game of Express Enterprises in Rural Areas," Sustainability, MDPI, vol. 15(2), pages 1-30, January.
    18. Zhang, Jian & Li, Ting & He, Yuhui & Li, Zhaohui, 2025. "Does land transfer-out facilitate an upgrade in farmers’ consumption," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 2219-2233.
    19. Bin Xiong & Baocheng Yu & Yalan Tang, 2025. "Digital Government Construction and Common Prosperity in China: Effect and Transmission Channel," Sustainability, MDPI, vol. 17(20), pages 1-24, October.
    20. Zhou Jiang & Maoxia Zeng & Mingming Shi, 2023. "E‐commerce and Consumption Inequality in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 31(5), pages 61-86, September.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:63:y:2024:i:c:s154461232400432x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.