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Anti-trust law, financing advantage and common prosperity within firms

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  • Yan, Shen
  • Mao, Chunxiao
  • Ma, Wanrong

Abstract

The Anti-trust Law, which embodies the principles of an "active government" and an "efficient market", plays a significant role in shaping the initial income distribution of enterprises and realizing common prosperity. Based on the Chinese A-share listed firms, this study reveals that enforcing the Anti-trust Law impacts labour income, labour income share, and the income disparity within firms with higher monopolistic power. The improvement is primarily due to the Anti-trust Law's influence on the composition of factors, resulting in a more equitable and competitive market environment for debt and equity, reducing the financing advantage enjoyed by highly monopolistic enterprises.

Suggested Citation

  • Yan, Shen & Mao, Chunxiao & Ma, Wanrong, 2024. "Anti-trust law, financing advantage and common prosperity within firms," Finance Research Letters, Elsevier, vol. 63(C).
    • Handle: RePEc:eee:finlet:v:63:y:2024:i:c:s154461232400432x
    DOI: 10.1016/j.frl.2024.105402
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    References listed on IDEAS

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    1. Nanak Kakwani & Xiaobing Wang & Ning Xue & Peng Zhan, 2022. "Growth and Common Prosperity in China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(1), pages 28-57, January.
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    3. Guihua Wang & Quan Guo & Qiong Jiang & Butong Li, 2022. "A Study on the Relationship between Corporate Social Responsibility and Supply Chain Profit Distribution in the Context of Common Prosperity," Sustainability, MDPI, vol. 14(19), pages 1-18, September.
    4. Liu, Yang & Dong, Xiucheng & Dong, Kangyin, 2023. "Pathway to prosperity? The impact of low-carbon energy transition on China's common prosperity," Energy Economics, Elsevier, vol. 124(C).
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