Media attention and large shareholders' embezzlement behavior

Dong Li and Yushu Han

Finance Research Letters, 2023, vol. 57, issue C

Abstract: This paper analyses the relationship between media attention and the appropriation of interests by large shareholders from the perspective of embezzlement behavior. The empirical analysis is conducted by selecting data from listed companies in China's Shenzhen A-share market from 2018 to 2021. It is found that both company media attention and controlling shareholder media attention can effectively restrain the embezzlement behaviors of large shareholders; media attention is more effective in state-owned enterprises in restraining embezzlement behaviors of large shareholders; media attention has better-restraining effects on embezzlement behaviors of controlling shareholders of listed companies under special treatment.

Keywords: Media attention; Embezzlement; Embezzlement behavior by large shareholders (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:57:y:2023:i:c:s1544612323005822

DOI: 10.1016/j.frl.2023.104210

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