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Government ownership and the capital structure of firms : analysis of an institutional context from China

Huang, Xiaohong; Kabir, Rezaul; Zhang, Lingling - In: China journal of accounting research : CJAR 11 (2018) 3, pp. 171-185

Emerging economies provide interesting scenarios for examining how institutional context influences the financing behavior of firms. In this study, we examine the capital structure of Chinese listed firms following the Split-Share Structure Reform of 2005. This reform allowed a reduction of...

Persistent link: https://www.econbiz.de/10011932370

Monitoring the governance of state-owned enterprises : assessing the impact of corporate governance reforms in Brazil

Coelho, Daphne; Teodorovicz, Thomaz; Martinez … - 2024

State-owned enterprises (SOEs) are often justified for correcting market failures, providing essential public services, and fulfilling social objectives. Yet, SOEs face unique governance challenges as agency conflicts usually increase with state ownership. This paper examines Brazil's efforts to...

Persistent link: https://www.econbiz.de/10015054007

Do Government Controllers Use the Corporate Control Market to Help Improve the Performance of Publicly Listed Chinese SOEs?

Ke, Bin - 2015

We examine whether the corporate control market is an important governance mechanism that the controlling shareholders of publicly listed Chinese SOEs employ to improve the performance of less efficiently run Chinese SOEs. Using an econometric methodology advocated by Maddala (1983), we show...

Persistent link: https://www.econbiz.de/10013020016

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

Ultimate government control structures and firm value : evidence from Chinese listed companies

Wang, Kun; Xiao, Xing - In: China journal of accounting research : CJAR 2 (2009) 1, pp. 101-122

state ownership remains widespread in China's stock markets. Three questions are considered that are related to government …

Persistent link: https://www.econbiz.de/10011823423

The Impact of Residual Government Ownership in Privatized Firms : New Evidence from China

Liao, Jing - 2011

-privatization performance in China. Using panel data on 514 firms for the period from 1999 to 2004, the similar sample period with previous …

Persistent link: https://www.econbiz.de/10013125138

Government Ownership and Venture Capital in China

Suchard, Jo-Ann; Humphery-Jenner, Mark; Cao, Xiaping (Jerry) - 2021

China’s venture capital (VC) market features significant government ownership of VCs. We examine the impact of … mainland China, where the IPO process is discretionary and heavily regulated. Entrepreneurial firms backed by partially …

Persistent link: https://www.econbiz.de/10013231393

Mixed Ownership Reform and Corporate Governance in China’s State-Owned Enterprises

Wang, Jiangyu - 2020

reform in China. It also conducts empirical studies of the change in ownership and board composition in over 30 SOEs which … have recently completed their MOR experiments, as well as, several case studies including China Unicom's MOR. We observe … argue that the MOR programme is driven by three current beliefs of the Chinese Party-state on the future of SOEs in China …

Persistent link: https://www.econbiz.de/10012847112

Ownership Reform, State Ownership, Corporate Governance, and Agency Costs : The Case of Chinese Listed Companies

Vijayakumaran, Ratnam - 2019

The aim of this paper is to examine the effect of 2005-ownership reform and state ownership on the linkages between corporate governance mechanisms and agency costs for Chinese listed firms. Based on a large panel of Chinese listed firms, we find that following the reform managerial ownership,...

Persistent link: https://www.econbiz.de/10012867655

Institutional Ownership and Corporate Governance of Public Companies in China

Guo, Lin - 2019

and institutional foundation of the capital markets in China. In contrast, ownership by grey institutions is in general …

Persistent link: https://www.econbiz.de/10012865418