Pursuing fame or interests: cross non-controlling major shareholders and private information in related party transactions

Chengjie Cui, Xiaoqing Li and Yawen Hao

Finance Research Letters, 2025, vol. 78, issue C

Abstract: Based on the opposing perspectives of "pursuing fame" and "pursuing interests", this paper explores the impact of cross non-controlling major shareholders on private information in related party transactions in Chinese A-share listed firms from 2012 to 2022. The results show that cross non-controlling major shareholders can significantly reduce private information in related party transactions, which supports "pursuing fame". The mechanism analysis suggests that firm complexity and digital transformation can enhance the monitoring role of cross non-controlling major shareholders on private information in related party transactions, whereas media attention reduces the monitoring effect.

Keywords: Cross non-controlling major shareholders; Related party transactions; Private information (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:78:y:2025:i:c:s1544612325004519

DOI: 10.1016/j.frl.2025.107188

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