Does the type of ownership control matter? Evidence from China's listed companies

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Market Reactions to the First-Time Disclosure of Corporate Social Responsibility Reports: Evidence from China (2016, background): “Different types of government controlling shareholders may have different objectives and incentives (Chen et al. 2009; Wang and Shailer 2012), which may affect how they exercise their control rights over the firms under their control and the market valuation.”
Ownership Structure and Risk-Taking: Comparative Evidence from Private and State-Controlled Banks in China (2014, background): “To address this issue, we classify the banks based on the nature of the largest shareholder, defined as the controlling shareholder that tends to dominate the bank’s decision making and control the bank’s property by virtue of their superior control rights (see Chen et al., 2009).”
Varieties in state capitalism and corporate innovation: Evidence from an emerging economy (2021, methodology): “To address this issue, we follow Chen et al. (2009) and divide the full sample into two subsamples representing manufacturing and nonmanufacturing Notes: This table shows the relationship between ultimate controlling ownership and innovation performance estimated using the treatment effect model.”