文献类型：期刊文献

英文题名：The Impact of Controlling Shareholders' Share Pledge on Enterprise's Innovation Investment-Evidence from Listed Firms in Coastal Region of China

作者：Yang, Kezhi[1];Li, Mengyu[1];Suo, Lingling[2]

第一作者：Yang, Kezhi

通讯作者：Suo, LL[1]

机构：[1]Beijing Technol & Business Univ, Business Coll, Beijing 100048, Peoples R China;[2]Beijing Union Univ, Business Coll, Beijing 100025, Peoples R China

第一机构：Beijing Technol & Business Univ, Business Coll, Beijing 100048, Peoples R China

通讯机构：[1]corresponding author), Beijing Union Univ, Business Coll, Beijing 100025, Peoples R China.|[1141721]北京联合大学商务学院;[11417]北京联合大学;

年份：2020

卷号：107

期号：sp1

起止页码：408-412

外文期刊名：JOURNAL OF COASTAL RESEARCH

收录：;Scopus(收录号：2-s2.0-85090357334);WOS:【SSCI(收录号:WOS:000562129100091)，SCI-EXPANDED(收录号:WOS:000562129100091)】；

基金：This research was supported by the National Social Science Fundation of China (Project No. 19BGL070): "Research on the Impact of Controlling Shareholder's Pledge on the Financial Behavior of Listed Companies".

语种：英文

外文关键词：Share pledge; controlling shareholder; enterprise innovation

摘要：Utilizing the data of A-share listed companies in Chinese coastal areas from 2008 to 2017, this paper empirically analyses the relationship between the pledge of controlling shareholders' equity and the enterprise innovation. The results show that: (1) Controlling shareholders' share pledge will restrain innovation investment, but this negative impact will only play a role when the share pledge rate is high; (2) After subdividing the nature of property rights, it is found that the restraint of controlling shareholders' share pledge on enterprise innovation is more significant in coastal non-state-owned enterprises than in state-owned enterprises.