@article{ART002155773},
author={CHEN BIN and Lee, Ki-Seong},
title={Managerial Ownership and Corporate Performances in China},
journal={Journal of Asia-Pacific Studies},
issn={1225-8539},
year={2016},
volume={23},
number={3},
pages={191-219},
doi={10.18107/japs.2016.23.3.007}
TY - JOUR
AU - CHEN BIN
AU - Lee, Ki-Seong
TI - Managerial Ownership and Corporate Performances in China
JO - Journal of Asia-Pacific Studies
PY - 2016
VL - 23
IS - 3
PB - Institute of Global Affairs
SP - 191
EP - 219
SN - 1225-8539
AB - This paper empirically studies the relationship between the managerial ownership and corporate performances in China. Using the panel dataset of 958 companies across 12 industries in 2010-2014 (non-financial listed firms). The results indicate that First, the regression analysis taken from both exogenous and endogenous perspectives on the entire sample revealed that an inversed U-shaped curve, displaying non-linear relationship between the managerial ownership and two measures of corporate performance (ROA, ROE). Second, the regression analysis on each group divided according to the ownership type displayed that state-owned enterprises were not in line with the above conclusions (entire sample, private-owned enterprises), and there are only linear relationships between the managerial ownership and two measures of corporate performance. Third, we also find that corporate governance variables including concentration of ownership and the ratio of independent directors perform monitoring role to help to improve firm performance.
KW - Managerial Ownership;Corporate Performances;Panel Regression Analysis;Fixed Effect Two Stage Least Square;China
DO - 10.18107/japs.2016.23.3.007
ER -
CHEN BIN and Lee, Ki-Seong. (2016). Managerial Ownership and Corporate Performances in China. Journal of Asia-Pacific Studies, 23(3), 191-219.
CHEN BIN and Lee, Ki-Seong. 2016, "Managerial Ownership and Corporate Performances in China", Journal of Asia-Pacific Studies, vol.23, no.3 pp.191-219. Available from: doi:10.18107/japs.2016.23.3.007
CHEN BIN, Lee, Ki-Seong "Managerial Ownership and Corporate Performances in China" Journal of Asia-Pacific Studies 23.3 pp.191-219 (2016) : 191.
CHEN BIN, Lee, Ki-Seong. Managerial Ownership and Corporate Performances in China. 2016; 23(3), 191-219. Available from: doi:10.18107/japs.2016.23.3.007
CHEN BIN and Lee, Ki-Seong. "Managerial Ownership and Corporate Performances in China" Journal of Asia-Pacific Studies 23, no.3 (2016) : 191-219.doi: 10.18107/japs.2016.23.3.007
CHEN BIN; Lee, Ki-Seong. Managerial Ownership and Corporate Performances in China. Journal of Asia-Pacific Studies, 23(3), 191-219. doi: 10.18107/japs.2016.23.3.007
CHEN BIN; Lee, Ki-Seong. Managerial Ownership and Corporate Performances in China. Journal of Asia-Pacific Studies. 2016; 23(3) 191-219. doi: 10.18107/japs.2016.23.3.007
CHEN BIN, Lee, Ki-Seong. Managerial Ownership and Corporate Performances in China. 2016; 23(3), 191-219. Available from: doi:10.18107/japs.2016.23.3.007
CHEN BIN and Lee, Ki-Seong. "Managerial Ownership and Corporate Performances in China" Journal of Asia-Pacific Studies 23, no.3 (2016) : 191-219.doi: 10.18107/japs.2016.23.3.007
