Wang, Liangliang; Zhang, Haiyang; Zhang, Lu; Guo, Xiru - In: China journal of accounting studies 9 (2021) 3, pp. 311-332
investigate the effect of this cash transfer on the business group’s agency cost. Using the sample of A-share listed companies in … reduced effect is more significant in business groups with higher subsidiary business importance and subsidiary debt financing … value-added effect. This paper generates new insights into the "black box" of the internal operation of business groups and …