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State-owned enterprises (SOE) are essentially extensions of the government and are therefore responsible for multi-task objectives. The incentive system for SOE managers consists of both monetary compensation and promotion within the bureaucratic system. Political promotion is key to...
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We compare the sensitivity of managerial cash compensation to firm performance, the level of long term managerial incentives, and the sensitivity of CEO turnover to firm performance for three types of state-controlled Chinese firms: A shares (firms incorporated and listed in mainland China), H...
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We examine whether the corporate control market is an important governance mechanism that the controlling shareholders of publicly listed Chinese SOEs employ to improve the performance of less efficiently run Chinese SOEs. Using an econometric methodology advocated by Maddala (1983), we show...
Persistent link: https://www.econbiz.de/10013020016
We examine the impact of China’s 2012 anti-corruption campaign, which targets the excesses of government officials and SOE executives, on the performance of publicly listed Chinese SOEs. Using publicly listed non-SOEs as a benchmark, we find that the campaign reduced the overall performance of...
Persistent link: https://www.econbiz.de/10013296524