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Career Experiences, Managerial Overconfidence and Investment Efficiency : A Natural Experiment from Chinese CEO Growth Path
Hao, Ying - 2014
We show that managerial career experiences have significant explanatory power for corporate investment decisions. We use the setting of economic conditions changed from Central Planning to Market Economy, which is an exogenous shock to managerial characteristic, as a natural experiment to test...
Persistent link: https://www.econbiz.de/10013045346
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How much do the characteristics of independent directors and supervisory board members affect firm performance in China?
Xu, Hongmei - 2013
This paper investigates and compares the characteristics of independent directors and supervisory board members in Chinese listed firms. The occupational backgrounds of independent directors and supervisory board members in listed firms are very different. Besides, different firms have different...
Persistent link: https://www.econbiz.de/10010225528
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Tournaments and managerial incentives in China's listed firms : new evidence
Kato, Takao (contributor); Long, Cheryl (contributor) - 2008
The promotion tournament as a potentially important incentive mechanism for top management in transition economies has not been examined by the emerging literature on managerial incentives in transition economies. This paper is the first attempt to fill this important gap in the literature. The...
Persistent link: https://www.econbiz.de/10003759900
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The Convergence of the Chinese and Western Takeover Markets
Song, Guoxiang - 2009
The evolution of the Chinese takeover market and its integration with the international takeover market are analysed in … decentralised “Anglo-Saxon” takeover market. Second, the paper provides statistical and case material on the extent to which the … Chinese takeover market has in practice become aligned with that of the US and UK. And, third, it presents case evidence on …
Persistent link: https://www.econbiz.de/10013154501
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The Vanke-Baoneng Case and Beyond : Hostile Takeover and Corporate Governance in China
Kang, Sang Yop - 2020
This draft explores the takeover war between Vanke (target) and Baoneng Group (bidder) and related issues on hostile … the Vanke case and the hostile takeover regime in China. Part III summarizes the draft and concludes …
Persistent link: https://www.econbiz.de/10012849008
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Does Political Corruption Affect Mergers and Acquisitions Decisions? Evidence from China
Yang, Hao; Zhang, Qiusheng; Zhao, Xiaofang; Wang, Zhongchao - 2022
We examine whether political corruption impedes mergers and acquisitions (M&As) decisions. Using a comprehensive sample of Chinese firms, we find that corruption has a substantial, negative relation with the firm acquisitiveness. Further evidence suggests that the impact is more pronounced when...
Persistent link: https://www.econbiz.de/10014258694
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SPACs with focus on China
Shachmurove, Yochanan; Vulanovic, Milos - 2014 - Preprint, February 8th, 2014
In this study, we examine characteristics of Specified Purpose Acquisition Companies (SPACs) used as a financing tool for companies from China in period 2004-2011. We offer the evidence that, similarly to evidence from studies on reverse mergers focusing on China, SPACs that focus on China are...
Persistent link: https://www.econbiz.de/10010372686
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Executive compensation in business groups : evidence from China
Cai, Guilong; Zheng, Guojian - In: China journal of accounting research : CJAR 9 (2016) 1, pp. 25-39
This paper examines executive compensation in the subsidiaries of business groups in China. Analyzing a sample of China business groups (the so-called “XiZu JiTuan” in Chinese) from 2003 to 2012, we find convincing evidence of the use of Relative Performance Evaluation (RPE) in the executive...
Persistent link: https://www.econbiz.de/10011844591
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Female Board Leadership, Firm Performance, and Corporate Governance : Evidence from China
Jiang, Fuxiu - 2019
Using a large sample of Chinese firms, we examine performance differences between firms with female and male chairs and the channels through which such differences arise. After controlling for the presence of female CEOs and non-chair female directors, we find that chairwoman firms perform...
Persistent link: https://www.econbiz.de/10012897552
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Restricting CEO Pay Backfires : Evidence from China
Bae, Kee-Hong - 2020
Using the pay restriction imposed on CEOs of centrally administered state-owned enterprises (CSOEs) in China in 2009, we study the effects of limiting CEO pay. Compared with CEOs of firms not subject to the restriction, the CEOs of CSOEs experienced a significant pay cut. In response to the pay...
Persistent link: https://www.econbiz.de/10012853325