Tunneling through intercorporate loans: The China experience

• Main Authors: JIANG, Guohua, LEE, Charles M. C., YUE, Heng
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2009
• 主題: Accounting; Asian Studies; Corporate Finance; International Economics
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research_all/8; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1007&context=soa_research_all
• 機構: Singapore Management University

This study investigates a particularly brazen form of corporate abuse, in which controlling shareholders use intercorporate loans to siphon billions of RMB from hundreds of Chinese listed companies during the 1996 to 2006 period. We document the nature and extent of these transactions, evaluate thei...