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In this study, According to logic of business diversification and firm performance, assuming exists an optimal degree of diversification enterprises under certain conditions, according to empirical analysis of 109 listed companies, we get two conclusions: First, the higher level of diversification of listed companies, its Price-earnings Ratio is lower, that is to say it is harder to get approval by...
This paper explores the relationship between institutional ownership and corporate governance in China. In order to study the role of institutional investors in corporate governance, the author first studies the relation between institutional ownership and corporate performance. The empirical results show that institutional ownership is not only positively correlated with current corporate performance,...
This paper, with a firm-level dataset of private listed companies in Shanghai stock markets from 2004-2008 based on ultimate shareholder's views, examines the effects of ultimate shareholder's controlling rights, cash flow rights and the separation between controlling rights and cash flow rights on corporate performance and capital structure. The paper tries to give some suggestions on the improvement...
Aiming at the problem that if the 2008 listed company executive high price can improve enterprise value, this paper empirically researches on the listed company executive compensation and corporate performance according to 2009 listed company annual report data. This paper selects the 2009 A-share listed companies of Shanghai in China as research samples, empirical analysis of correlation between...
In order to observe whether holistic listing improves the efficiency of listed companies in the long term, this paper empirically tests the performance changes of listed companies that have realized holistic listing in 2004-2007 in China's stock market. We use improved FA-DEA method to evaluate the efficiency changes, and then apply Tobit Model to analyze the influence of holistic listing, size, major...
Tournament theory and behavioral theory held quite different ideas towards the effect of top management team gap. Based on these two theories, this paper proposed two dyadic competitive hypotheses on the relationship between top management team pay gap and corporate performance. Using the data of 114 China listed companies in 2006-2007, we found there is positive relationship between them, which is...
This paper examines the relationship between corporate governance and corporate performance. An overall set of measures are constructed to evaluate the practice of corporate governance in Chinapsilas civilian-owned listed enterprises. Factor analysis is introduced to construct a comprehensive performance variable. The result demonstrates better corporate governance mechanism is not associated with...
Our study examines whether corporate governance practice have an effect on corporate performance. We identify a comprehensive set of governance mechanisms for China's listed companies and construct relevant measures for each of them. Factor analysis is introduced to construct an all-rounded performance variable. The results indicate that the ownership and the board structure, executive compensation...
Based on Chinese firms initially publicly offering (IPO) in 2000 and 2001, we investigate the relationship between outside blockholderspsila ownership and corporate performance. We find a significant cubic relationship between corporate performance and outside blockholderspsila ownership, that is, with the increase of outside blockholderspsila ownership, corporate performance slopes upward firstly,...
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