Lu, Zhengfei; Zhu, Jigao - In: China Journal of Accounting Research 13 (2020) 2, pp. 129-145
-owned enterprises (SOEs), this paper systematically reviews the literature on the independence and governance effect of SOE boards. We … find that the governance effect of SOE boards is driven by the dual characteristics of SOEs: state involvement in ownership … and market incentives. With the state involved in ownership, SOEs adhere to the leadership of the Communist Party of China …