IDEAS home Printed from https://ideas.repec.org/a/taf/apeclt/v27y2020i8p667-672.html
   My bibliography  Save this article

Does intergeneration succession influence stock prices of family businesses?

Author

Listed:
  • Kunlun Zou
  • Rong Wu
  • Pu Chen

Abstract

China’s A-shares family listed companies are facing a period of high intergenerational succession. This has attracted the attention and research of many scholars. The existing studies mainly focus on the motives, methods, and influencing factors of family business’ intergenerational succession, and there are few studies involving the reaction of the capital markets. This article takes 45 listed family businesses as samples and uses the synthetic control method to examine the impact and the degree of influence that intergenerational succession has on stock price movements. Thereafter, a difference-in-differences estimation is conducted to test for robustness. At the conclusion of our research, we find that intergenerational succession has a significant negative effect on the stock price of listed companies.

Suggested Citation

  • Kunlun Zou & Rong Wu & Pu Chen, 2020. "Does intergeneration succession influence stock prices of family businesses?," Applied Economics Letters, Taylor & Francis Journals, vol. 27(8), pages 667-672, May.
    • Handle: RePEc:taf:apeclt:v:27:y:2020:i:8:p:667-672
    DOI: 10.1080/13504851.2019.1644424
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13504851.2019.1644424
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13504851.2019.1644424?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shuai Song & Lixin Zhou & Stavros Sindakis & Sakshi Aggarwal & Charles Chen, 2024. "The Impact of Intergenerational Succession Intention on Family Firm’s Innovation Strategy: Evidence from China," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 204-237, March.
    2. Ren, Xiaoyi & Liu, Xing, 2024. "Passing the dividend baton: Family succession and cash dividends," International Review of Financial Analysis, Elsevier, vol. 94(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:27:y:2020:i:8:p:667-672. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAEL20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.