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Founder control, ownership structure and firm value : evidence from entrepreneurial listed firms in China
Xia, Lijun - In: China journal of accounting research : CJAR 1 (2008), pp. 31-49
In emerging markets, the deviation between the ultimate controlling shareholders' voting rights and their cash flow rights (hereafter “DVC”) in the listed firms is quite prevalent. DVC could be introduced due to the ultimate controlling shareholders' opportunistic incentives, as well as by...
Persistent link: https://www.econbiz.de/10011823380
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Ownership Structure, Corporate Governance, and Bilateral Political Relations : Evidence from Chinese Cross-Border Mergers
Zhang, Wenjia - 2017
This paper examines the relation between firm ownership structure, bilateral political relations and firm performance … relative to non-affiliated bidders. Collectively, our results suggest an important role for bidder ownership type as well as …
Persistent link: https://www.econbiz.de/10012961965
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How Do Corporate Control Rights Transactions Create Shareholder Value? Evidence from China
Dong, Liping - 2014
block trades. The positive effect of block trades becomes small as the target firm had high director ownership before the …
Persistent link: https://www.econbiz.de/10013058715
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Minority Shareholders’ Control Rights and the Quality of Corporate Decisions in Weak Investor Protection Countries : A Natural Experiment from China
Chen, Zhihong - 2012
fund ownership. There is also weak evidence that minority shareholders are more likely to veto value-decreasing equity … offering proposals in firms with higher mutual fund ownership in the post-regulation period. Overall, our evidence suggests …
Persistent link: https://www.econbiz.de/10013116135
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Board Characteristics and Chinese Bank Performance
Liang, Qi - 2013
performance. We find new evidence that the degree of bank boards' political connection is negatively correlated with bank …
Persistent link: https://www.econbiz.de/10013083271
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Board Independence, Ownership Concentration and Corporate Performance - Chinese Evidence
Li, Ke - 2014
their joint effects on corporate performance as ownership concentration declines. We find that both independent directors … and ownership concentration ratios are individually positively correlated with firm performance, and the positive effect … of board independence strengthens as ownership concentration declines. However, the effect varies by the types of …
Persistent link: https://www.econbiz.de/10013067498
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Managerial Ownership, Corporate Governance, and Firms’ Exporting Decisions : Evidence from Chinese Listed Companies
Dixon, Robert - 2015
intensity increase with managerial ownership up to a point of around 23%-27%, and decrease thereafter. In addition, we find a … negative association between state ownership and export intensity. Finally, we observe that the larger the board size, the …
Persistent link: https://www.econbiz.de/10013014387
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Does Ownership Structure Matter? Evidence from the Excess Cash in China
Sun, Zhenzhen - 2015
We examine the effect of corporate ownership structure on the market value of excess cash in Chinese listed firms. We … find that state ownership has a positive effect, as the market value of excess cash is greater in state-owned firms than in …
Persistent link: https://www.econbiz.de/10013038168
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The Impact of Ownership and Ownership Concentration on the Performance of China’s Listed Firms
Ma, Shiguang - 2009
This paper investigates the impact of ownership and ownership concentration on the performance of China's listed firms …. By recognizing the differences between ownership and ownership concentration and between total ownership concentration … and tradable ownership concentration, we conduct simplex, interactive and joint analyses. We find that ownership …
Persistent link: https://www.econbiz.de/10013160286
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Agency Costs, Ownership, and Internal Governance Mechanisms : Evidence From Chinese Listed Companies
Vijayakumaran, Ratnam - 2019
. This paper examines the impact of internal governance mechanisms such as ownership structure and board characteristics and … debt financing on agency costs making use of a large panel of Chinese listed firms. We find that managerial ownership and …
Persistent link: https://www.econbiz.de/10012894146