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Stock pledge, risk of losing control and corporate innovation
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- Zhang, Hao & Jin, Tian & Chen, Hanbin, 2023. "Do controlling shareholders collude with their related large shareholders? Evidence of equity pledges and shareholding increases from China," International Review of Financial Analysis, Elsevier, vol. 89(C).
- Wen, Chufu & Wen, Fenghua & Lin, Diyue & Zhao, Lili, 2024. "Multinational corporations and share pledging of the controlling shareholder," International Review of Financial Analysis, Elsevier, vol. 95(PB).
- Yun‐an Bai, 2022. "Corporate social responsibility and corporate innovation output: Empirical evidence based on Chinese listed companies," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(8), pages 3534-3547, December.
- Tao, Qizhi & Xiang, Xueman & Yi, Biao, 2021. "Using stock split to secure pledged shares: Evidence from Chinese listed firms," International Review of Economics & Finance, Elsevier, vol. 74(C), pages 160-175.
- Xiao, MingFang & Cao, June & Chiang, Yao-Min, 2022. "Kiss the baby for the nurse's sake? - Guaranteeing employees' stock purchase against loss program," International Review of Financial Analysis, Elsevier, vol. 81(C).
- Wang, Xiaoqiong & Zhen, Hongxian & Zhu, Feifei, 2023. "Voting with their feet: Controlling shareholders' share pledging and other major shareholders' strategic response," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
- Singh, Amanjot & Singh, Harminder, 2022. "Insiders' stock pledging disclosures and credit ratings: Evidence from India," Pacific-Basin Finance Journal, Elsevier, vol. 75(C).
- Pan, Hongbo & Chen, Hao, 2024. "Marketization of interest rate quotation mechanism and bank credit-empirical evidence from Chinese listed companies," Finance Research Letters, Elsevier, vol. 63(C).
- Su, Zili, 2023. "Essays on equity incentive and share pledging in China," Other publications TiSEM fb4495ee-f9bc-45c7-9d85-1, Tilburg University, School of Economics and Management.
- Li, Tangrong & Sun, Xuchu, 2023. "Is controlling shareholders' credit risk contagious to firms? — Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
- Li, Manman & Qi, Luguang, 2025. "Controlling shareholder equity pledging and tone management: Evidence from China," Research in International Business and Finance, Elsevier, vol. 74(C).
- Hou, Xiaohui & Lu, Xiaonan, 2024. "Debtholder responses to controlling shareholders’ share pledging," The Quarterly Review of Economics and Finance, Elsevier, vol. 98(C).
- Zhang, Huili & Huang, Yibo & Xu, Lei & Cui, Xuegang & Hu, Zhonghui, 2025. "University shareholding and corporate innovation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 101(C).
- Cheng, Rui & Frijns, Bart & Kim, Hyeongjun & Ryu, Doojin, 2024. "Effects of option incentive compensation on corporate innovation: The case of China," Economic Systems, Elsevier, vol. 48(1).
- Ghosh, Arpita, 2025. "Influence of share pledging on corporate social responsibility: Evidence from India," Research in International Business and Finance, Elsevier, vol. 77(PA).
- Chen, Wen & Zhu, Yufeng & He, Zehui & Yang, Yang, 2022. "The effect of local government debt on green innovation: Evidence from Chinese listed companies," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
- Guo, Xiaodong & Pang, Caiji & Qiao, Zheng & Yao, Xiangkun, 2024. "Institutional investor cliques and stock price efficiency: Evidence from China," Journal of Financial Markets, Elsevier, vol. 71(C).
- Zhu, Bing & Xia, Xiaoxue & Zheng, Xiaojia, 2021. "One way out of the share pledging quagmire: Evidence from mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 71(C).
- Xiao, Zhongyi & Chen, Haitao & Chen, Kang, 2023. "How does institutional investors' information acquisition inhibit share pledging? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 89(C).
- Chen, Hung-Kun & Hu, Shing-yang, 2024. "Insider pledging: Its information content and forced sale," Journal of Corporate Finance, Elsevier, vol. 89(C).
- Zhou, Jingting & Li, Wanli & Yan, Ziqiao & Lyu, Huaili, 2021. "Controlling shareholder share pledging and stock price crash risk: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 77(C).
- Yan, Guan & Liu, Zhidong, 2023. "Interconnectedness of financial institutions based on pledged shares in China," Finance Research Letters, Elsevier, vol. 57(C).
- Xie, Linlin & Liu, Guangqiang & Liu, Boyang, 2023. "Patent pledge policy and stock price crash risk: Evidence from China," Research in International Business and Finance, Elsevier, vol. 65(C).
- Jose, Amal & Bhaduri, Saumitra, 2024. "Promoter's share pledging and investment–The role of financial constraints," Finance Research Letters, Elsevier, vol. 62(PA).
- Wang, Qiong & Qiu, Muqing & Tan, Wenhao, 2020. "Does insiders share pledging stifle innovation? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 72(C).
- Junping Zhang & Ping Li, 2024. "Share pledging: Measuring margin call pressure and its influence on liquidity commonality," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 45(6), pages 3897-3914, September.
- Zhang, Yue & Ge, Mengshuai & Yang, Jiaju & Liu, Cuiying & Chen, Xi, 2023. "Controlling shareholders' equity pledge, digital finance, and corporate digital transformation," International Review of Financial Analysis, Elsevier, vol. 90(C).
- Han, Han & Wang, Zhibin & Zhao, Xueqing, 2023. "Minority shareholder activism, threat of exit and pay-performance sensitivity," Finance Research Letters, Elsevier, vol. 56(C).
- Shen, Yinjie (Victor) & Wang, Wei & Zhou, Fuzhao, 2021. "Insider pledging in the U.S," Journal of Financial Stability, Elsevier, vol. 53(C).
- Chen, Yi-Wen & Pan, Xing-Yu & Lin, Chu-Bin & Yang, Chun-Hua, 2024. "Share pledge and stock repurchase: The role of stock mispricing and corporate governance," Pacific-Basin Finance Journal, Elsevier, vol. 88(C).
- Wang, Zhibin & Li, Zelei, 2023. "Does minority shareholder activism enhance corporate innovation? Evidence from China," Finance Research Letters, Elsevier, vol. 54(C).
- Hou, Xipei & Shen, Yinjie(Victor) & Xing, Jing & Zhou, Fuzhao, 2023. "Hastily announced: Mergers and acquisitions with pledging shareholders," Journal of Financial Stability, Elsevier, vol. 67(C).
- Gao, Ya & Li, Bing & Sun, Weizeng, 2023. "Resource curse on innovation: A perspective on local mining industry monopolies in resource-based cities in China," China Economic Review, Elsevier, vol. 81(C).
- Huang, Wei & Luo, Yan & Wang, Xiaohuan & Xiao, Lifu, 2022. "Controlling shareholder pledging and corporate ESG behavior," Research in International Business and Finance, Elsevier, vol. 61(C).
- GuoHua Cao & WenJun Geng & Jing Zhang & Qi Li, 2023. "Social network, financial constraint, and corporate innovation," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 13(3), pages 667-692, September.
- Shen, Haomin & Cheng, Xiaoke & Ouyang, Caiyue & Li, Ya & Chan, Kam C., 2022. "Does share pledging affect firms' use of derivatives? Evidence from China," Emerging Markets Review, Elsevier, vol. 50(C).
- Wang, Xuanwen & Zhu, Lei & Zheng, Haitao, 2025. "The relationship between technical innovation and market value: Evidence from the China's new energy vehicles industry," Energy Policy, Elsevier, vol. 202(C).
- Xue-Zhou Zhao & Jun Chen & Feng-Wen Chen & Wei Wang & Senmao Xia, 2020. "How High-Polluting Firms Suffer from Being Distracted form Intended Purpose: A Corporate Social Responsibility Perspective," IJERPH, MDPI, vol. 17(24), pages 1-29, December.
- Tian, Zhongliang & Tang, Ruoyuan & Liu, Wenhe & Qi, Yuan, 2024. "Controlling shareholder's equity pledge and corporate financialization," Finance Research Letters, Elsevier, vol. 60(C).
- Jiang, Fuxiu & Xia, Xiaoxue & Zheng, Xiaojia, 2021. "Does controlling shareholders' share pledging raise suppliers' eyebrows?," Pacific-Basin Finance Journal, Elsevier, vol. 66(C).
- Li, Jiao, 2024. "Controlling shareholders’ stock pledges and greenwashing–Evidence from China," Finance Research Letters, Elsevier, vol. 69(PB).
- Bang, Nupur Pavan & Bhatia, Nandil & Ray, Sougata & Ramachandran, Kavil, 2025. "Pledging of shares by controlling shareholders and implications for foreign institutional investors," Business Horizons, Elsevier, vol. 68(1), pages 95-108.
- Li, Shaofang & Tian, Sihua & Gu, Qinen, 2025. "Share pledging and non-financial corporations’ systemic risk contribution: Evidence from China," Research in International Business and Finance, Elsevier, vol. 73(PA).
- Jiacai Xiong & Yixing Tong & Feida Zhang & Caiyue Ouyang & Kam C. Chan, 2024. "Does share pledging affect corporate philanthropy? Evidence from China," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 51(1-2), pages 180-208, January.
- Wang, Mingwei & Zhang, Junping & Liang, Decui, 2024. "Multi-period share pledging with sequential three-way proportion decision," Omega, Elsevier, vol. 127(C).
- Huang, Zhi-xiong & Li, Xiaozhong & Zhao, Yuheng, 2022. "Stock pledge restrictions and investment efficiency," Finance Research Letters, Elsevier, vol. 48(C).
- Gao, Yang & Ling, Yun & Peng, Hui, 2024. "Before thrive, first survive: The impact of controlling shareholder pledging on corporate ESG performance," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
- Liu, Wenjun & He, Qian & Cao, June & Kamar, Amina, 2024. "Exploring the catalysts of eco-innovation: Employee ownership and sustainable practices," Technological Forecasting and Social Change, Elsevier, vol. 207(C).
- Kryzanowski, Lawrence & Li, Mingyang & Xu, Sheng & Zhang, Jie, 2025. "Share pledging and corporate misconduct," The British Accounting Review, Elsevier, vol. 57(3).
- Chengcheng Li & Xiaoqiong Wang & Feifei Zhu, 2024. "Does share pledging impair stakeholder welfare? Evidence based on corporate social responsibility," Review of Quantitative Finance and Accounting, Springer, vol. 63(4), pages 1155-1192, November.
- Kejing Chen & Qiaoshuang Meng & Yutao Sun & Qingqing Wan, 2024. "How does industrial policy experimentation influence innovation performance? A case of Made in China 2025," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-17, December.
- Chang, Jeffery (Jinfan) & Meng, Qingbin & Ni, Xiaoran, 2022. "A tale of riskiness: The real effects of share pledging on the Chinese stock market," Pacific-Basin Finance Journal, Elsevier, vol. 73(C).
- Li, Yukun & Zhu, Danfeng, 2022. "Share pledging and corporate environmental investment," Finance Research Letters, Elsevier, vol. 50(C).
- Li, Yuanling & Xiao, Zhongyi & Shen, Fei & Zou, Hanbing & Li, Weiping, 2025. "Financing the firm or fueling risk? how share-pledged loans for corporate use shape corporate performance," The North American Journal of Economics and Finance, Elsevier, vol. 78(C).
- Xu, Nianhang & Li, Min & Xie, Rongrong & Chan, Kam C., 2024. "Double standards? The adverse impact of chairperson hometown ties on corporate green innovation," Journal of Corporate Finance, Elsevier, vol. 88(C).
- Qin, Xiao & Wang, Ze, 2023. "Share pledge financing network and systemic risks: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 152(C).
- Zili Su & Constantinos Alexiou, 2023. "Impact of share pledging by controlling shareholders on firm value in the context of China's tightened regulatory reforms," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(S2), pages 2847-2874, June.
- Chou, Robin K. & Wang, Yu-Chun & Jimmy Yang, J., 2021. "Share pledging, payout policy, and the value of cash holdings," Journal of Empirical Finance, Elsevier, vol. 61(C), pages 18-33.
- Minh-Quan Nguyen & Nhat-Tan Le & Khuong Nguyen-An & Duc-Thi Luu, 2024. "An Integral Equation Approach for the Valuation of Finite-maturity margin-call Stock Loans," Papers 2407.14728, arXiv.org.
- Han, Han & Zhao, Xueqing & Wang, Zhibin, 2023. "The effect of stock pledge on corporate fraudulence: Evidence from China," Finance Research Letters, Elsevier, vol. 57(C).
- McWalter, Thomas A. & Ritchken, Peter H., 2022. "On stock-based loans," Journal of Financial Intermediation, Elsevier, vol. 52(C).
- Zhang, Huili & Huang, Yibo & Zou, Zhiwei, 2024. "Does share pledging affect corporate sustainability performance? Empirical evidence from an emerging market," Emerging Markets Review, Elsevier, vol. 63(C).
- Xiong, Xun & Zhao, Long, 2025. "Manager sentiment and its effect on corporate innovation," Economic Modelling, Elsevier, vol. 143(C).
- Xu, Qingyong & Zhang, Junzhi & Yu, Daqian & Yu, Chunying & Fu, Jiaxin & Chen, Xiaoye & Tian, Juan, 2025. "Ownership structure, cross-listing, and stock price crash risk," Finance Research Letters, Elsevier, vol. 75(C).
- Luo, Danglun & Piao, Zhirong & Wu, Cen & Zhang, Frank Feida, 2024. "Collateral damage: Evidence from share pledging in China," International Review of Financial Analysis, Elsevier, vol. 93(C).
- Zhang, Hua & Zhao, Liang & Tu, Yongqian, 2024. "Patent pledge financing policy and stock price crash risk," International Review of Economics & Finance, Elsevier, vol. 96(PA).
- Yue Xie & Tianhui Wang & Jinhua Zhang & Na Wang, 2023. "Does controlling shareholders’ share pledge exacerbate excessive financialization of enterprises?—Evidence from performance pressure perspective," PLOS ONE, Public Library of Science, vol. 18(7), pages 1-26, July.
- Qiu, Yong & Guo, Ziyang & Li, Junlong & Li, Biao & Qiao, Dan, 2024. "Impact of controlling shareholders’ equity pledges on firms’ labour investment efficiency," Finance Research Letters, Elsevier, vol. 70(C).
- He, Mingfeng & Huang, Dengshi & Zhou, Jianan, 2023. "The impacts of share pledging on firm investment timing and valuation," International Review of Financial Analysis, Elsevier, vol. 87(C).
- Hu, Jing & Zhong, Lejia & Qiao, Jingyuan, 2024. "Equity pledge and debt financing of listed companies," Finance Research Letters, Elsevier, vol. 59(C).
- Bi, Ruigang & Kou, Zonglai & Lou, Pingyi & Song, Hong, 2024. "Stock liquidity and the signaling value of patents: Evidence from china's national equities exchange and quotations market," Journal of Comparative Economics, Elsevier, vol. 52(4), pages 871-896.
- Tian, Guangning & Zhou, Shuyuan & Hsu, Sara, 2020. "Executive financial literacy and firm innovation in China," Pacific-Basin Finance Journal, Elsevier, vol. 62(C).
- Jin, Yanbo & Wei, Siqi & Xu, Jian, 2025. "Share pledging and stock price synchronicity: Evidence from China," Emerging Markets Review, Elsevier, vol. 65(C).
- Rui Li & Yongmei Cui & Yajun Zheng, 2021. "The Impact of Corporate Strategy on Enterprise Innovation Based on the Mediating Effect of Corporate Risk-Taking," Sustainability, MDPI, vol. 13(3), pages 1-17, January.
- Zhang, Yangzi & Liu, Liping, 2025. "Wealth management purchases on corporate innovation: Moderating effects of financing constraints," Finance Research Letters, Elsevier, vol. 78(C).
- Shi, Yang & Li, Jiachen & Liu, Ruiming, 2023. "Financing constraints and share pledges: Evidence from the share pledge reform in China," Journal of Corporate Finance, Elsevier, vol. 78(C).
- Wu, Yanghui, 2023. "Banking competition and stock price crash risk," Finance Research Letters, Elsevier, vol. 58(PB).
- Huang, Zhi-xiong & Yang, Xiandong, 2021. "Carbon emissions and firm innovation," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 503-513.
- Leng, Aolin & Sun, Yanbing, 2024. "The impact mechanism and breakthrough path of COVID-19 on enterprise financial distress: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 16-31.