Notice of RetractionThe study on financial crisis cost in listed companies

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

In this paper, we estimated financial crisis costs for financial crisised companies in year 2004–2006 and analyze the influences of ownership structures on financial crisis costs. We find that the average financial crisised cost measured by MVE model is 17.27%, showing that financial crisis surely brings losses to listed companies. The nature of a company´s controlling shareholder significantly influences financial crisis cost. Because of soft budget and policy predominance, state ownership controlled corporations are capable of obtaining more funds and trust from relevant stakeholders, thus incurring lower financial crisis costs than other corporations.