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Complementarities in corporate governance : ownership concentration, capital structure, monitoring and pecuniary incentives
Heinrich, Ralph P. - 2000
The paper shows that, as owners accumulate larger stakes and hence become less risk-tolerant, their incentives to monitor management are attenuated because monitoring shifts some of the firm's risk from management to owners. This counterbalances the positive effect which more concentrated...
Persistent link: https://www.econbiz.de/10011476161
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The basic governance structure of public corporations : the interests of shareholders as a class
Armour, John; Enriques, Luca; Hansmann, Henry B.; … - 2017
This paper is the third chapter of the third edition of The Anatomy of Corporate Law: A Comparative and Functional Approach, by Reinier Kraakman, John Armour, Paul Davies, Luca Enriques, Henry Hansmann, Gerard Hertig, Klaus Hopt, Hideki Kanda Mariana Pargendler, Georg Ringe, and Edward Rock...
Persistent link: https://www.econbiz.de/10011674062
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Testimony of Tamar Groswald Ozery on Corporate Ownership and Control under China's Party-state system, before the U.S.-China Economic and Security Review Commission, Hearing on “U....
Groswald Ozery, Tamar - 2021
This Written Statement presents aspects in China's corporate governance framework, state corporate ownership and … control, and the Chinese Communist Party's roles in corporate governance. It was submitted as part of a testimony before the U.S.-China … Economic and Security Review Commission, Hearing on “U.S. Investment in China’s Capital Markets and Military-Industrial Complex …
Persistent link: https://www.econbiz.de/10013237647
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Corporate Governance, IPO Underpricing and Long-Term Performance of Listed Firms in China
Li, Lary - 2009
This is an empirical study that examines the underpricing and aftermarket long-term performance of IPOs in China and … China. The findings demonstrate that initial IPO returns influence the market value long-term and that the ownership …
Persistent link: https://www.econbiz.de/10013156611
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Corporate Governance of Chinese Privatized Firms : Evidence from a Survey of Non-Listed Enterprises
Zhong, Ninghua - 2016
By using a dataset containing over 1,200 Chinese non-listed firms, this study examines the corporate governance of privatized firms. Based on the summary statistics for 22 governance structures, I find that privatized domestic private firms have set up stronger governance than domestic private...
Persistent link: https://www.econbiz.de/10013004652
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Control Rights, Pyramids and Expropriation of State-Owned Listed Enterprises : Evidence from the Dual Class Share Reform in China
Watanabe, Mariko - 2015
structures exist. In China, dual class share and pyramiding coexisted in listed companies until the dual share reform was …
Persistent link: https://www.econbiz.de/10013027435
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Corporate governance and firm performance in China
Molnár, Margit; Wang, Baolin; Chen, Wenhao - 2017
A key priority in China’s “new normal” period -- where returns on investment are slackening -- is corporate governance … Survey of China (www.oecd.org/eco/surveys/economic-survey-china.htm). …
Persistent link: https://www.econbiz.de/10011732750
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The Chinese Government's New Approach to Ownership and Financial Control of Strategic State-Owned Enterprises
Mattlin, Mikael - 2007
major actor in China's domestic capital allocation, with an active role in strategic financing and restructuring of key …
Persistent link: https://www.econbiz.de/10014225425
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The Effects of Governance Changes on Bank Efficiency in China : A Stochastic Distance Function Approach
Yao, Shujie; Jiang, Chunxia - 2007
China has accelerated and deepened bank reform since it joined the WTO in 2001. Employing a stochastic distance … governance changes on bank efficiency in China for the period 1995-2005. Our results show that bank efficiency has been improved … foreign competition is beneficial to China's on-going bank reform, and going-public is just a means to allow effective foreign …
Persistent link: https://www.econbiz.de/10014051403
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The Journey of a Thousand Miles : A Decade of Impact of Foreign Shareholders on the Performance of the Chinese Commercial Banks
Gurdgiev, Constantin - 2021
We analyze the impact of foreign shareholdings on the performance of 28 Chinese commercial banks over a period of 2010-2019, capturing the period prior to and following the reforms of 2014. Using panel data GMM with instrumental variables, we consider bank performance from three perspectives:...
Persistent link: https://www.econbiz.de/10013229180