Abstract
This paper investigated the effects of stock liquidity on controlling shareholders’ encroachment of private interests. It showed that stock liquidity positively affects controlling shareholders’ encroachment of private interests in China's listed companies. Further, institutional investor ownership and stock price crash risk have a mediating effect on stock liquidity toward controlling shareholders’ encroachment of private interests, respectively. This research strives to provide valuable insights for management to strengthen stock liquidity assessment and improve corporate governance.
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