Hu, Fang; Leung, Sidney C.M. - In: The International Journal of Accounting 47 (2012) 2, pp. 235-262
Using a sample of 916 Chinese listed state-owned enterprises (SOEs) from 2001 to 2005, we find that the likelihood of top management turnover is negatively associated with firm performance, suggesting the existence of an effective corporate governance mechanism in an emerging economy that is...