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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
(24. 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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