This paper examines the relationship between firms'strategic stock renaming behavior and controlling shareholders'private interests in terms of the motivation for stock renaming.It is found that controlling shareholder'private interests increase the likelihood of strategic stock renaming and that the announcement period of strategic name renaming is accompanied by signif-icant controlling shareholder shareholding reductions,which supports the private interests motivation for strategic stock renaming.Further research suggests that strategic stock renaming is more likely to occur when the percentage of shares held by the first larg-est shareholder is higher,and that controlling shareholders are more likely to engage in strategic stock renaming for private inter-ests'motives when the controlling shareholder's equity pledge ratio is higher and the profit from the main business is lower.
万方数据
维普
