This paper examines the impact of controlling shareholders' stock pledge on institutional shareholding using the sample … of Chinese listed firms. Stock pledge means shareholders use stock of listed firms as the pledged assets to apply for … shareholders' stock pledge decreases institutional shareholding significantly and such relation is more remarkable in the subsample …

between corporate controlling shareholders and minority shareholders during China’s split-share structure reform, wherein … shareholders. Our initial analysis provides evidence that profit-promised firm-years are, on average, associated with income … ownership. Further analysis documents that the exit threat of institutional shareholders can discipline earnings management …