As an essential stakeholder of enterprises, the governance effect of non-controlling major shareholders’ exit threat has gradually attracted the attention of academia. Based on the data of China’s A-share listed companies from 2007 to 2021, this paper empirically tests the governance effect of non-controlling major shareholders on corporate financing constraints. The research results of this paper enrich the research on corporate financing constraints and reveal the effectiveness of non-controlling large shareholders’ exit threat on corporate financing constraints.

Xiaoling He. Non-Controlling Major Shareholders' Exit Threat and Corporate Financing Constraints. International Journal of Frontiers in Sociology (2023), Vol. 5, Issue 2: 102-108. https://doi.org/10.25236/IJFS.2023.050218.

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