Buy High, Sell Low: How Listed Firms Price Asset Transfers in Related Party Transactions
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Cites background from "Buy High, Sell Low: How Listed Firm..."
...This can happen, among others, in the form of transfer pricing, asset stripping, and investor dilution (Berkman et al., 2009; Cheung et al., 2009)....
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Cites background from "Buy High, Sell Low: How Listed Firm..."
...Cheung et al. (2009) investigate related party transactions between Chinese listed companies and their controlling shareholders in a two-year time slot during 2001–2002....
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...…China, and all use the direct transfer or Type I tunneling method (e.g., Aharony, Wang, & Yuan, 2010; Berkman et al., 2009; Chen, Jian, & Xu, 2009; Cheung et al., 2009; Gao & Kling, 2008a; Jian & Wong, 2010; Jiang et al., 2010; Li, 2010; Liu & Tian, 2012; Lo, Wong, & Firth, 2010; Peng, Wei, &…...
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...…related party transactions and transactions used for direct transfer of Type I tunneling; there are three motivations of related party transaction: tunneling, propping, and earnings management (Cheung et al., 2009), and this study only used tunneling as one potential source of asset appropriation....
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References
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"Buy High, Sell Low: How Listed Firm..." refers background in this paper
...Some studies use the legal system (in particular investor protection) as a proxy for the likelihood of expropriation (La Porta et al., 1998; 2000b; Johnson et al., 2000; Nenova, 2003; Djankov et al., 2007)....
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"Buy High, Sell Low: How Listed Firm..." refers background in this paper
...More recent 2 For an extensive survey of the corporate governance literature, see Shleifer and Vishny (1997)....
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10,954 citations