This relates to the type of circuit in which a momentary pushbutton turns on power, and then the microcontroller takes over and keeps power on by asserting a GPIO pin - until it's ready to turn off its own power.
The circuit on the left in the attached picture uses a P-channel mosfet on the high side to switch power. I've used it several times, and it works fine. But I wondered if there was a low-side equivalent using an N-channel mosfet. The circuit on the right is an attempt to do that, but I don't think it works.
If the power is on, and the MCU attempts to turn it off by bringing the GPIO high, or making it an input, I think current will flow from the 9V rail through the emitter and base of the PNP, into the GPIO pin, and through the upper protection diode to 5V. If that happens, the PNP will stay on, and the MCU will be unable to do anything to turn it off.
Am I thinking right about this? If so, how might this be made to work without adding another bipolar transistor? It seems that to make it really equivalent, you would have to move the regulator to the low side, and make it 4V - not something you see every day.