控股股东股权质押文献综述

Literature Review of Holding Shareholders’ Equity Pledges

近年来,股权质押凭借其门槛低和期限灵活等优势,从萌芽期一步步迅猛发展,一定程度上缓解了企业融资难的问题,但也带来很多潜在风险。深入分析股东股权质押的融资行为对维护金融市场稳定和促进金融服务实体经济具有重大意义。本文系统梳理了控股股东股权质押相关文献,针对质押的动机、影响因素和经济后果的现有研究分别进行了归纳总结。通过分析相关文献研究脉络,本文总结了现有研究的成果和不足,为后续研究工作的开展提供一定的借鉴。

In recent years,the equity pledge has developed rapidly step by step from the budding stage under its advantages such as low threshold and flexible term,which to a certain extent alleviates enterprise financing difficulties,but also brings a lot of potential risks.An in-depth analysis of the financing behavior of shareholders’equity pledges is of great significance in maintaining the stability of the financial market and promoting the financial services of the real economy.In this paper,we systematically sort out the literature related to controlling shareholders’equity pledges,and summarise the existing studies on the motives,influencing factors,and economic consequences of pledges respectively.By analyzing the relevant literature,this paper summarises the results and shortcomings of the existing studies to provide certain references for the development of subsequent research work.