Simultaneous Relationships Among Ownership, Corporate Governance, and Financial Performance
40 Pages Posted: 18 Apr 2003
Date Written: June 2002
Abstract
We draw on the many aspects of corporate governance examined in the developed economies and extend them to the Chinese environment. We find evidence of strong linkage and interdependence in the use of different control mechanisms. While there are significant relationships between the governance control mechanisms and firm performance, these disappear when using simultaneous equation estimation. Our findings support the argument that governance control mechanisms operate independently and they are substitutes for one another.
Keywords: Ownership, Corporate Governance, SOEs
JEL Classification: G3, P2
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Executive Compensation and Corporate Governance in China
By Martin Conyon and Lerong He
-
Executive Compensation and Corporate Fraud in China
By Martin Conyon and Lerong He
-
CEO Compensation and Corporate Governance in China
By Martin Conyon and Lerong He
-
Corporate Governance and CEO Compensation in China
By Oliver M. Rui, Michael Firth, ...
-
By Takao Kato and Cheryl Long
-
Firm Performance, Governance Structure, and Top Management Turnover in a Transitional Economy
By Michael Firth, Peter M.y. Fung, ...
-
How Ownership and Corporate Governance Influence Chief Executive Pay in China's Listed Firms
By Michael Firth, Peter M.y. Fung, ...
-
Is China's Securities Regulatory Agency a Toothless Tiger? Evidence from Enforcement Actions
By Michael Firth, Gong-meng Chen, ...