{"title":"中国上市公司关联交易与机构投资者","authors":"C. Hwang, Shaojun Zhang, Yanjian Zhu","doi":"10.1108/S2514-465020180000006001","DOIUrl":null,"url":null,"abstract":"Abstract \nWe study institutional investors’ influence on the use of related party transactions (RPTs) in China. We test the significance of potential factors in the cross-sectional regression analysis of the amount of RPTs reported by Chinese listed companies. We also analyze intraday trading activities and stock prices in days around public announcements of RPTs. Our findings suggest that institutional investors do not have a significant influence on Chinese firms’ usage of RPTs but they react to RPT announcements through buying or selling shares.","PeriodicalId":228644,"journal":{"name":"Advances in Pacific Basin Business, Economics and Finance","volume":"15 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2018-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"8","resultStr":"{\"title\":\"Related Party Transactions and Institutional Investors in Chinese Listed Companies\",\"authors\":\"C. Hwang, Shaojun Zhang, Yanjian Zhu\",\"doi\":\"10.1108/S2514-465020180000006001\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Abstract \\nWe study institutional investors’ influence on the use of related party transactions (RPTs) in China. We test the significance of potential factors in the cross-sectional regression analysis of the amount of RPTs reported by Chinese listed companies. We also analyze intraday trading activities and stock prices in days around public announcements of RPTs. Our findings suggest that institutional investors do not have a significant influence on Chinese firms’ usage of RPTs but they react to RPT announcements through buying or selling shares.\",\"PeriodicalId\":228644,\"journal\":{\"name\":\"Advances in Pacific Basin Business, Economics and Finance\",\"volume\":\"15 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2018-08-21\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"8\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Advances in Pacific Basin Business, Economics and Finance\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1108/S2514-465020180000006001\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Advances in Pacific Basin Business, Economics and Finance","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/S2514-465020180000006001","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Related Party Transactions and Institutional Investors in Chinese Listed Companies
Abstract
We study institutional investors’ influence on the use of related party transactions (RPTs) in China. We test the significance of potential factors in the cross-sectional regression analysis of the amount of RPTs reported by Chinese listed companies. We also analyze intraday trading activities and stock prices in days around public announcements of RPTs. Our findings suggest that institutional investors do not have a significant influence on Chinese firms’ usage of RPTs but they react to RPT announcements through buying or selling shares.
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