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An Empirical Analysis of Corporate Governance in China: Legal Environment, Ownership Concentration, and Corporate Performance
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An Empirical Analysis of Corporate Governance in China: Legal Environment, Ownership Concentration, and Corporate Performance

22 Seiten · 4,38 EUR
(April 2013)

 
Ich bin mit den AGB, insbesondere Punkt 10 (ausschließlich private Nutzung, keine Weitergabe an Dritte), einverstanden und erkenne an, dass meine Bestellung nicht widerrufen werden kann.
 
 

Abstract:

The main findings of this paper are: 1) poorer legal protection of shareholders gives rise to higher ownership concentration in the case of Chinese domestically listed companies; 2) whereas the legal environment is keeping improving, ownership concentration is even on the rise instead of coming down; 3) State share has a negative impact on the corporate performance, while legal share does the opposite; 4) companies with relatively high ownership concentration generally perform better. Furthermore, ownership concentration does a better job in explaining corporate performance (solving classical corporate governance issues) than such variables as executive compensation, board structure, financial structure do.

Keywords: Corporate governance, environment ownership, concentration, corporate performance


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