{
  "abstract": "Cross shareholders have become a common phenomenon in capital markets, which increasingly draw the attention of scholars. This paper examines the effect of cross shareholders on corporate cash holdings in Chinese capital market and finds cross shareholders increase corporate cash holdings. Further mechanism analyses find suggestive evidence that this increase is correlated with reductions in overinvestment and improvements in total asset turnover. Additional results show the effect of cross shareholders has heterogeneous significance given the conditions of different external environment and firm characteristics. Moreover, cross shareholders reinforce the positive effect of cash holdings on firm productivity. Overall, this paper’s findings provide insight for understanding the role of cross shareholders in corporate cash holding decision in China.",
  "abstract_shown": true,
  "affiliations": [
    "School of Advanced Accounting and Auditing, Shanghai University of Finance and Economics, Shanghai, China",
    "School of Economics, Shanghai University, Shanghai, China"
  ],
  "article_type": "Research Article",
  "arxiv": null,
  "author_total": 2,
  "authors": [
    {
      "affs": [
        0
      ],
      "name": "Yili He"
    },
    {
      "affs": [
        1
      ],
      "name": "Xihe Liu"
    }
  ],
  "bibtex": "https://research.draconitic.com/paper/bdrzjxvjk0vwd.bib",
  "cited_by": 0,
  "doi": "10.1371/journal.pone.0338657",
  "fulltext_url": null,
  "id": "bdrzjxvjk0vwd",
  "issns": [
    "1932-6203"
  ],
  "landing_url": "https://doi.org/10.1371/journal.pone.0338657",
  "language": null,
  "licence": "CC-BY-4.0",
  "licence_label": "CC BY 4.0",
  "licence_source": "journal",
  "licence_url": "https://creativecommons.org/licenses/by/4.0/",
  "metadata_licence": null,
  "native_subjects": [
    [
      "openalex",
      "1402|Corporate Finance and Governance"
    ],
    [
      "plos",
      "/People and places/Population groupings/Professions/Analysts"
    ],
    [
      "plos",
      "/Physical sciences/Mathematics/Statistics/Statistical methods/Instrumental variable analysis"
    ],
    [
      "plos",
      "/Physical sciences/Physics/Thermodynamics/Entropy"
    ],
    [
      "plos",
      "/Research and analysis methods/Mathematical and statistical techniques/Statistical methods/Instrumental variable analysis"
    ],
    [
      "plos",
      "/Social sciences/Economics"
    ],
    [
      "plos",
      "/Social sciences/Economics/Economic analysis/Economic impact analysis"
    ],
    [
      "plos",
      "/Social sciences/Economics/Finance"
    ],
    [
      "plos",
      "/Social sciences/Economics/Financial markets/Capital markets"
    ],
    [
      "plos",
      "/Social sciences/Economics/Information economics/Asymmetric information"
    ]
  ],
  "openalex": "W7223704139",
  "pdf_url": "https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0338657&type=printable",
  "pmcid": null,
  "pmid": null,
  "published": "2026-10-26",
  "publisher": "Public Library of Science",
  "ris": "https://research.draconitic.com/paper/bdrzjxvjk0vwd.ris",
  "sources": [
    {
      "first_seen": "2026-10-30T12:17:17Z",
      "native_id": "10.1371/journal.pone.0338657",
      "source": "plos",
      "url": "https://doi.org/10.1371/journal.pone.0338657"
    }
  ],
  "subjects": [
    {
      "field": "mathematics",
      "origin": "plos:statistical methods",
      "subfield": "statistics"
    },
    {
      "field": "physics",
      "origin": "plos:thermodynamics",
      "subfield": "statistical-nonlinear"
    }
  ],
  "title": "Cross shareholders and corporate cash holdings: Empirical evidence from Chinese listed companies",
  "title_text": "Cross shareholders and corporate cash holdings: Empirical evidence from Chinese listed companies",
  "type": "peer-reviewed",
  "updated_at": "2026-10-30T12:17:17Z",
  "url": "https://research.draconitic.com/paper/bdrzjxvjk0vwd",
  "venue": "PLOS One",
  "versions": []
}