Product market competition,ultimate controlling structure and related party transactions

被引：6

作者：

Shenglan Chen ^{[1
]}

Kun Wang ^{[2
]}

Xiaoxue Li ^{[3
]}

机构：

[1] Department of Accounting,School of Economics and Management,Inner Mongolia University

[2] Department of Accounting,School of Management,China University of Mining and Technology

[3] Department of Accounting,School of Economics and Management,Tsinghua University

来源：

China Journal of Accounting Research | 2012年 / 04期

关键词：

Product market competition; Ownership structure; Ultimate controlling shareholder; Cash flow rights; Related party transactions;

D O I：

暂无

中图分类号：

F274 [企业供销管理];

学科分类号：

1201 ;

摘要：

Previous studies have shown that product market competition has an important effect on corporate strategies and internal governance mechanisms. Using a sample of China’s listed firms from 2004 to 2009, we explore the relationship between product market competition and normal related party transactions and find a significant positive relationship. In addition, we investigate the substitutive effect of product market competition and the cash flow rights owned by ultimate controlling shareholders on the extent of normal related party transactions. In particular, our results suggest a positive relationship between the ultimate controlling shareholders’ cash flow rights and normal related party transactions that is strongest in noncompetitive industries and weakens as product market competition increases.

引用

页码：293 / 306

页数：14

共 22 条

[1] 大股东控制下的关联投资:“效率促进”抑或“转移资源”
柳建华
魏明海
郑国坚
[J]. 管理世界, 2008, (03) : 133 - 141+187
[2] 股权制衡对关联交易和关联销售的持续性影响
洪剑峭
薛皓
[J]. 南开管理评论, 2008, (01) : 24 - 30
[3] 关联交易、控制权收益与盈余质量
佟岩
王化成
[J]. 会计研究, 2007, (04) : 75 - 82+96
[4] 关联交易与公司内部治理机制实证研究——来自沪深股市的经验证据
刘建民
刘星
[J]. 中国软科学, 2007, (01) : 79 - 89
[5] Related-party transactions and corporate governance: The evidence from the Taiwan stock market[J] . Yin-Hua Yeh,Pei-Gi Shu,Yu-Hui Su.Pacific-Basin Finance Journal . 2012 (5)
[6] The impacts of product market competition on the quantity and quality of voluntary disclosures
Li, Xi
[J]. REVIEW OF ACCOUNTING STUDIES, 2010, 15 (03) : 663 - 711
[7] Ownership structure and the cost of corporate borrowing[J] . Chen Lin,Yue Ma,Paul Malatesta,Yuhai Xuan.Journal of Financial Economics . 2010 (1)
[8] Propping through related party transactions
Jian, Ming
Wong, T. J.
[J]. REVIEW OF ACCOUNTING STUDIES, 2010, 15 (01) : 70 - 105
[9] The influence of product market dynamics on a firm's cash holdings and hedging behavior
Haushalter, David
Klasa, Sandy
Maxwell, William F.
[J]. JOURNAL OF FINANCIAL ECONOMICS, 2007, 84 (03) : 797 - 825
[10] Industry product market competition and managerial incentives[J] . Christo Karuna.Journal of Accounting and Economics . 2007 (2)

← 1 2 3 →