Analysis of the Impact of LeTV's Big Shareholders' Stock Pledge on Business Performance
- DOI
- 10.2991/hsmet-18.2018.121How to use a DOI?
- Keywords
- LeTV; major shareholder; equity pledge; operating performance
- Abstract
Private listed companies have higher credit requirements than state-owned enterprises, and financing is more difficult. In order to alleviate these financing difficulties, equity pledges have emerged . Equity pledge has won the favor of many corporate shareholders because it is simple and flexible, and it helps maintain control. However, the behavior of equity pledges tends to cause the separation of control rights and cash flow rights, triggering agent conflicts and negatively affecting business performance. It also easily leads to corporate earnings management and manipulation of profits. Then, how does the shareholder's equity pledge affect the company's operating performance? Recently, LeTV's financial crisis has been hot. This article through LeTV's specific case, to build a business performance evaluation model, to explore LeTV's frequent equity pledge behavior on its business performance, and to get some inspiration.
- Copyright
- © 2018, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Yongqing Li AU - Haolei Guo PY - 2018/06 DA - 2018/06 TI - Analysis of the Impact of LeTV's Big Shareholders' Stock Pledge on Business Performance BT - Proceedings of the 2018 3rd International Conference on Humanities Science, Management and Education Technology (HSMET 2018) PB - Atlantis Press SP - 608 EP - 612 SN - 2352-5398 UR - https://doi.org/10.2991/hsmet-18.2018.121 DO - 10.2991/hsmet-18.2018.121 ID - Li2018/06 ER -