The change of governance model in the succession of family firms will have an important impact on firm performance. Based on the widespread altruism and conflicts in family firms, this paper proposes a theoretical model to explain the relationship among succession, corporate governance reform...

The association between corporate governance and firm value has been extensively studied in Chinese listed firms. Based on the characteristics of their ultimate shareholders, Chinese listed firms can be categorised as (1) central state-controlled, (2) local state-controlled or (3)...

Propping acts by controlling shareholders are common in Chinese listed firms. In this paper, we use data on related-party transactions of all listed Chinese firms from 2002 to 2008 to investigate the motivation behind controlling shareholders' propping acts and subsequent wealth-transfer...