复杂的所有权、合同执行、债权和杠杆

IF 1.4 4区经济学 Q3 BUSINESS, FINANCE

Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-12-28 DOI:10.1080/16081625.2021.2020668

M. Shah, Zuoping Xiao, Abdullah Abdullah, Shakir Quresh, Mushtaq Ahmad, Muqeet Ahmad

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引用次数: 1

摘要

摘要本研究考察司法效率和债权对内部金字塔结构与杠杆关系的调节作用。结果表明，垂直和水平金字塔结构对杠杆率的影响是显著的。我们发现金字塔的垂直结构对杠杆的影响比水平结构更大。结果还表明，司法效率和债权人权利削弱了复杂股权结构与杠杆之间的关联。

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Complex ownership, contract enforcement, creditor rights, and leverage

ABSTRACT This study examines the moderating effect of judicial efficiency and creditor rights on the relationship between internal pyramid structure and leverage. The results suggest that the effect of the vertical and horizontal pyramid structures on leverage is positive and significant. We find that the impact of the pyramid’s vertical structure on leverage is more substantial than that of the horizontal structure. The results also reveal that judicial efficiency and creditor rights weaken the association between a complex ownership structure and leverage.

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来源期刊

Asia-Pacific Journal of Accounting & Economics Multiple-

CiteScore

2.40

自引率

9.10%

发文量

期刊介绍： The Asia-Pacific Journal of Accounting & Economics (APJAE) is an international forum intended for theoretical and empirical research in all areas of economics and accounting in general. In particular, the journal encourages submissions in the following areas: Auditing, financial reporting, earnings management, financial analysts, the role of accounting information, international trade and finance, industrial organization, strategic behavior, market structure, financial contracts, corporate governance, capital markets, and financial institutions. The journal welcomes contributions related to the Asia Pacific region, and targets top quality research from scholars with diverse regional interests. The editors encourage submission of high quality manuscripts with innovative ideas. The editorial team is committed to an expedient review process.