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《Accounting Research》 2007-04
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Market Environment and the “Tunneling” Behavior of Controlling Shareholders——The Empirical Evidence from Chinese Listed Companies

Luo Danglun & Tang Qianquan  
This study shows that market environment has significantly affected the "tunneling" behavior of the controlling shareholder.It's a key role of the government to reduce the controlling shareholder's "tunneling" behavior that how to decrease the intervention of the government and promote the development of the financial market.Meanwhile,financial deficits of the local government can,directly or indirectly,drive the "tunneling" behavior,and making regulatory policy can deter the "tunneling" behavior of controlling shareholders.This shows that the constraints and public governance to the system level plays a significant role on the behavior of the corporate level.
【Fund】: 国家自然科学基金项目(70272021)的研究成果;; 中山大学“985工程”产业与区域发展研究中心项目的研究成果
【CateGory Index】: F832.51;F224
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