The role of political capital on private equity placement acquisition for Chinese publicly listed private sector enterprises

Feng, Yuyao; Song, Ciheng; Yang, Baili

doi:10.1080/13547860.2020.1739895

Cited by 2 publications

(3 citation statements)

References 30 publications

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“…Second, local state ownership can make it easier for family businesses to obtain the "supporting hands" of the government. Compared with central state ownership, local state ownership can bring more resource support to enterprises (Feng et al, 2020). In addition, because the local financial department and the holding company are geographically close, the communication costs between them are lower, and the local financial department knows the situation of the holding company better; therefore, local state ownership can solve the difficulties and provide help for the enterprise in a timely manner.…”

Section: The Influence Of the Heterogeneity Of State Ownership On The Succession Ofmentioning

confidence: 99%

Institutional Environment, State Ownership and Family Business Succession: Evidence from China*

Yang

Song

Feng

2021

Asia-Pac J of Fin Stud

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We examine the impact of the lack of institutional environment on the succession of family businesses and explore the moderating role of state ownership in the relationship. The empirical results show that in areas with poor institutional environment, it is more difficult for family business to inherit from generation to generation. State ownership in a family business can be used as an informal system to mitigate the negative impact of an imperfect institutional environment on succession. We also find that when state ownership comes from the local government or participates in corporate governance, its moderating effect is more significant.

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Section: The Influence Of the Heterogeneity Of State Ownership On The Succession Ofmentioning

confidence: 99%

Institutional Environment, State Ownership and Family Business Succession: Evidence from China*

Yang

Song

Feng

2021

Asia-Pac J of Fin Stud

Self Cite

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“…, 2020a, b). At the corporate level, this involves establishing political connections between PSEs and the government through its ownership in the firm (Feng et al. , 2021; Wu et al.…”

Section: Introductionmentioning

confidence: 99%

“…They may also employ former government officials to serve in the enterprises (Chen et al, 2020a, b). At the corporate level, this involves establishing political connections between PSEs and the government through its ownership in the firm (Feng et al, 2021;Wu et al, 2021).…”

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confidence: 99%

Impact of government ownership on private sector enterprises’ environmental responsibility: empirical evidence from Chinese listed firms

Song

2022

IJOEM

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Purpose Against the background of actively promoting the reform of mixed ownership in China, this study regards government ownership in private sector enterprises (PSEs) as an important political connection mechanism and examines private holding listed companies in high-polluting industries that sold China A-shares from 2012 to 2019.Design/methodology/approach Using regression models such as Tobit and negative binomial estimation, the research empirically examines the impact of government ownership in PSEs on the corporate fulfillment of their environmental responsibilities.Findings Government ownership can effectively promote PSEs to fulfill their environmental responsibilities. Government ownership, as a corporate-level political connection mechanism, enables the government to provide firms with more environmental protection subsidies and environmental tax incentives, encouraging firms to fulfill their environmental responsibilities. When considering the policy risks faced by PSEs, government ownership effectively reduces the impact of policy uncertainty on firms’ fulfillment of environmental responsibilities. Additionally, verifying the economic development level of the city in which the firm is located makes the positive impact of government ownership on fulfillment of environmental responsibilities of PSEs in regions with lower economic development levels more significant.Originality/value Unlike existing studies that generally use the personal political identity of entrepreneurs to measure the political connections of PSEs, this study regards government ownership in PSEs as an important political connection mechanism. It provides a useful reference for China to formulate environmental protection policies for PSEs.

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The role of political capital on private equity placement acquisition for Chinese publicly listed private sector enterprises

Cited by 2 publications

References 30 publications

Institutional Environment, State Ownership and Family Business Succession: Evidence from China*

Institutional Environment, State Ownership and Family Business Succession: Evidence from China*

Impact of government ownership on private sector enterprises’ environmental responsibility: empirical evidence from Chinese listed firms

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