Research on the Influence Path of Equity Pledge on Enterprise Value—Taking SMEs as an Example

DOI

10.2991/assehr.k.220107.045How to use a DOI?

Keywords

equity pledge; enterprise value; influence path; structural equation model

Abstract

In this paper, we use the structural equation model to analyze the influence path of the pledge of the largest shareholder on the value of the company. The study shows that the degree and scale of the pledge have different effects on the company value, but the total effect is positive. The results show that the equity pledge is beneficial to promoting the company’s value. From the specific path, the direct action path plays a major role. In the indirect action path, the separation of the two rights, the financial risk and the enterprise innovation path, significantly impact the enterprise value. Still, the path of market value management has no significant effect on enterprise value.

Copyright

© 2022 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Jueming Wang
AU  - Baobao Li
PY  - 2022
DA  - 2022/01/20
TI  - Research on the Influence Path of Equity Pledge on Enterprise Value—Taking SMEs as an Example
BT  - Proceedings of the 4th International Seminar on Education Research and Social Science (ISERSS 2021)
PB  - Atlantis Press
SP  - 233
EP  - 236
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.220107.045
DO  - 10.2991/assehr.k.220107.045
ID  - Wang2022
ER  -