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Two tigers cannot live on the same mountain: The impact of the second largest shareholder on controlling shareholder's tunneling behavior.

ABSTRACT: Under the current corporate governance model, the second largest shareholder (SLS) is a very special, common and important presence, which becomes an important counterweight to the controlling shareholder (CS). Through a game matrix, this paper explains whether the SLS will supervise the CS's tunneling behavior. Based on this, we empirically examine the effect of the SLS on CS's tunneling behavior in Chinese listed firms between 2010 and 2020. The results indicate that the SLS significantly inhibits CS's tunneling behavior. In addition, the heterogeneity analysis reveals that the negative effect of the SLS on CS's tunneling behavior is concentrated in non-state-owned enterprises (NSOEs) and enterprises located in regions with better business environment. This paper provides a reference for resolving the current "conflict of interest" among multiple large shareholders (MLSs), as well as evidence to support the governance role of the SLS in listed firms with MLSs.

SUBMITTER: Liao J

PROVIDER: S-EPMC10306202 | biostudies-literature | 2023

REPOSITORIES: biostudies-literature

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Two tigers cannot live on the same mountain: The impact of the second largest shareholder on controlling shareholder's tunneling behavior.

Liao Jia J Zhan Yun Y Zhao Xiaoyang X

PloS one 20230628 6

Under the current corporate governance model, the second largest shareholder (SLS) is a very special, common and important presence, which becomes an important counterweight to the controlling shareholder (CS). Through a game matrix, this paper explains whether the SLS will supervise the CS's tunneling behavior. Based on this, we empirically examine the effect of the SLS on CS's tunneling behavior in Chinese listed firms between 2010 and 2020. The results indicate that the SLS significantly inhi ...[more]

PMID: 37379292

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Project description:Human T-lymphotropic viruses 1 and 2 (HTLV-1/2) have a worldwide distribution. HTLV-1 has been associated with several diseases, including an aggressive malignant disease known as adult T-cell leukemia/lymphoma and a chronic inflammatory neurological disease called HTLV-1-associated myelopathy, while HTLV-2 has not been definitively associated with diseases. HTLV-2 is most prevalent in specific groups such as injecting drug users and the indigenous population. In Brazil, most studies about HTLV in indigenous are carried out in indigenous communities from the north of the country. Mato Grosso do Sul (MS), Central Brazil, has the second-largest indigenous population in Brazil. However, there is no available data about HTLV infection in this group. We conducted the first investigation of HTLV-1/2 infection prevalence in the indigenous population from Jaguapiru and Bororó villages in Dourados City, MS, to provide the prevalence and molecular characterization of HTLV. For that, a total of 1875 indigenous participated in the study. All the serum samples were screened by an enzyme-linked immunosorbent assay commercial kit for the presence of anti-HTLV-1/2 antibodies. Positive samples were confirmed by HTLV-1/2 Western Blot assay. The HTLV-1 5'LTR region was detected by nested PCR amplification and sequenced by Sanger. Most of the study population declared belonging to Guarani-Kaiowá ethnicity (69.18%), 872 (46.51%), and 1003 (53.49%) were from Jaguapiru and Bororó villages, respectively. The median age of participants was 31 years, and 74.24% were females. Two individuals were detected with HTLV-1 (0.1%; CI 95% 0.1-0.2). The phylogenetic analysis revealed that isolates belong to the Cosmopolitan subtype and the Transcontinental subgroup (HTLV-1aA). The low HTLV-1 prevalence found in this study is similar to that observed among blood donors, and pregnant populations from Mato Grosso do Sul. The absence of HTLV-2 infection among these Brazilian indigenous communities would suggest a distinct behavior pattern from other indigenous populations in Brazil.

Dataset Information

Two tigers cannot live on the same mountain: The impact of the second largest shareholder on controlling shareholder's tunneling behavior.

Publications

Two tigers cannot live on the same mountain: The impact of the second largest shareholder on controlling shareholder's tunneling behavior.

Similar Datasets

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