Corporate governance in Chinese listed firms:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
Hamburg
Verlag Dr. Kovač
2015
|
| Schriftenreihe: | Schriftenreihe innovative betriebswirtschaftliche Forschung und Praxis
445 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis Ausführliche Beschreibung Inhaltsverzeichnis |
| Beschreibung: | XII, 100 Seiten 21 cm, 156 g |
| ISBN: | 9783830086512 3830086512 |
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| 653 | |a Supervisory Board Members | ||
| 653 | |a Cross-listing | ||
| 653 | |a Franfurt Stock Exchange | ||
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Datensatz im Suchindex
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| adam_text | TABLE OF CONTENTS
INDEX OF FIGURES IX
INDEX OF TABLES IX
INDEX OF ABBREVIATIONS XI
1. INTRODUCTION 1
2. BACKGROUND AND INSTITUTIONS OF CORPORATE GOVERNANCE IN CHINA 9
2.1. BACKGROUND 9
2.1.1.POLITICAL AND LEGAL BACKGROUND 9
2.1.2.FINANCIAL MARKETS 11
2.2. CORPORATE GOVERNANCE MECHANISMS 15
2.2.1.THE BOARD OF DIRECTORS 16
2.2.2.THE SUPERVISORY BOARD 18
2.2.3
.MANAGERIAL COMPENSATION 19
3. CORPORATE GOVERNANCE, STATE OWNERSHIP AND CROSS-LISTING: EVIDENCE
FROM CHINESE A-SHARE LISTED FIRMS 21
3.1. INTRODUCTION 21
3.2. INSTITUTIONAL BACKGROUND AND LITERATURE 22
3.2.1
.STATE OWNERSHIP 22
3.2.2.CROSS-LISTING AND BONDING HYPOTHESIS 23
3.2.3.CORPORATE GOVERNANCE ISSUES 25
3.3. DATA AND METHODOLOGY 27
3.3.1.DAT A 27
3.3.2.METHODOLOG Y 27
3.4. DATA DESCRIPTION AND SUMMARY STATISTICS 29
3.4.1
.DATA DESCRIPTION 29
3.4.2.SUMMARY STATISTICS 30
3.5. EMPIRICAL RESULTS 34
3.6. CONCLUSION 40
4. HOW MUCH DO THE CHARACTERISTICS OF INDEPENDENT DIRECTORS AND
SUPERVISORY BOARD MEMBERS AFFECT FIRM PERFORMANCE IN CHINA? 41
4.1. INTRODUCTION 41
4.2. LITERATURE AND HYPOTHESES 44
4.3. DATA DESCRIPTION 47
4.3.1
.DEPENDENT VARIABLES 47
4.3.2.INDEPENDENT VARIABLES 48
4.4. SUMMARY STATISTICS 51
4.5. EMPIRICAL RESULTS 58
4.6. DISCUSSION AND POLICY IMPLICATIONS 63
VII
HTTP://D-NB.INFO/1076483283
5. WHY DO SMALL CHINESE FIRMS LIST ON THE FRANKFURT STOCK EXCHANGE?. 67
5.1. INTRODUCTION 67
5.2. RELATED LITERATURE AND HYPOTHESES 69
5.3. DESCRIPTIVE STATISTICS 73
5.4. EMPIRICAL RESULTS 76
5.5. POST-ISSUE PERFORMANCES 78
5.5.1
.POST-ISSUE OPERATING PERFORMANCE 79
5.5.2.POST-ISSUE STOCK PERFORMANCE 80
5.6. CONCLUSIONS AND IMPLICATIONS 82
6. CONCLUSION 85
REFERENCES 93
VIII
INDEX OF FIGURE
FIGURE 1: THE CHINESE CORPORATE GOVERNANCE FRAMEWORK 42
INDEX OF TABLES
TABLE 1: DESCRIPTIVE STATISTICS OF CHINESE A-SHARE LISTED FIRMS 30
TABLE 2: SUMMARY STATISTICS OF STATE-OWNED FIRMS AND NON-STATE-OWNED
FIRMS 31
TABLE 3: COMPARISON OF CORPORATE GOVERNANCE VARIABLES IN STATE-OWNED
FIRMS AND NON-STATE-OWNED FIRMS 32
TABLE 4: SUMMARY STATISTICS OF CROSS-LISTED FIRMS AND
DOMESTICALLY-LISTED
FIRMS 33
TABLE 5: COMPARISON OF CORPORATE GOVERNANCE VARIABLES IN CROSS-LISTED
FIRMS AND DOMESTICALLY-LISTED FIRMS 34
TABLE 6: SENSITIVITY OF THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE
AND
FIRM VALUE AFFECTED BY STATE OWNERSHIP 35
TABLE 7: SENSITIVITY OF THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE
AND
FIRM VALUE AFFECTED BY CROSS-LISTING 38
TABLE 8: SUMMARY STATISTICS FOR INDEPENDENT DIRECTORS 49
TABLE 9: SUMMARY STATISTICS FOR SUPERVISORY BOARD MEMBERS 50
TABLE 10: DATA DESCRIPTION OF INDEPENDENT DIRECTORS CHARACTERISTICS
(CLASSIFIED BY FIRM SIZE AND EQUITY STATUS) 53
TABLE 11: DATA DESCRIPTION OF SUPERVISORY BOARD MEMBERS CHARACTERISTICS
(CLASSIFIED BY FIRM SIZE AND EQUITY STATUS) 54
TABLE 12: DATA DESCRIPTION OF INDEPENDENT DIRECTORS CHARACTERISTICS
(CLASSIFIED BY INDUSTRY) 56
TABLE 13: DATA DESCRIPTION OF SUPERVISORY BOARD MEMBERS CHARACTERISTICS
(CLASSIFIED BY INDUSTRY) 57
TABLE 14: EFFECTS OF CHARACTERISTICS OF INDEPENDENT DIRECTORS ON FIRM
PERFORMANCE 61
TABLE 15: EFFECTS OF CHARACTERISTICS OF SUPERVISORY BOARD MEMBERS ON
FIRM
PERFORMANCE 62
IX
TABLE 16: COMPARISON OF THE SIX MAIN STOCK EXCHANGES FOR CHINESE
OVERSEAS LISTINGS 72
TABLE 17: THE CHARACTERISTICS OF THE CHINESE FIRMS LISTED ON THE FWB,
GEM AND AIM 75
TABLE 18: CORRELATION MATRIX OF EXPLANATORY VARIABLES USED IN
REGRESSIONS... 76
TABLE 19: MULTIVARIATE PROBIT REGRESSIONS OF PROBABILITY OF LISTING ON
THE
FWB 78
TABLE 20: POST-ISSUE OPERATING PERFORMANCE OF CHINESE LISTINGS ON FWB,
GEM AND AIM 79
TABLE 21: COMPARISON OF THE POST-ISSUE STOCK PERFORMANCE OF CHINESE
LISTINGS ON THE FWB WITH OTHER FIRMS ON THE SAME MARKET 80
TABLE 22: COMPARISON OF THE POST-ISSUE STOCK PERFORMANCE OF CHINESE
LISTINGS ON THE FWB WITH CHINESE B-SHARES 81
TABLE 23: COMPARISON OF POST-ISSUE STOCK PERFORMANCE OF CHINESE LISTINGS
ON THE FWB, GEM AND AIM 81
X
|
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| discipline | Wirtschaftswissenschaften |
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| spelling | Xu, Hongmei 1986- Verfasser (DE-588)1046013793 aut Corporate governance in Chinese listed firms Hongmei Xu Hamburg Verlag Dr. Kovač 2015 XII, 100 Seiten 21 cm, 156 g txt rdacontent n rdamedia nc rdacarrier Schriftenreihe innovative betriebswirtschaftliche Forschung und Praxis 445 Dissertation Westfälische Wilhelms-Universität Münster 2015 Corporate Governance (DE-588)4419850-4 gnd rswk-swf Aktiengesellschaft (DE-588)4000937-3 gnd rswk-swf China (DE-588)4009937-4 gnd rswk-swf Chinese Listed Firms Independent Directors State Ownership Supervisory Board Members Cross-listing Franfurt Stock Exchange Corporate Governance Small Chinese Firms (DE-588)4113937-9 Hochschulschrift gnd-content China (DE-588)4009937-4 g Aktiengesellschaft (DE-588)4000937-3 s Corporate Governance (DE-588)4419850-4 s DE-604 Verlag Dr. Kovač (DE-588)16100321-7 pbl B:DE-101 application/pdf http://d-nb.info/1076483283/04 Inhaltsverzeichnis X:MVB text/html http://www.verlagdrkovac.de/978-3-8300-8651-2.htm Ausführliche Beschreibung DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028959476&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Xu, Hongmei 1986- Corporate governance in Chinese listed firms Corporate Governance (DE-588)4419850-4 gnd Aktiengesellschaft (DE-588)4000937-3 gnd |
| subject_GND | (DE-588)4419850-4 (DE-588)4000937-3 (DE-588)4009937-4 (DE-588)4113937-9 |
| title | Corporate governance in Chinese listed firms |
| title_auth | Corporate governance in Chinese listed firms |
| title_exact_search | Corporate governance in Chinese listed firms |
| title_full | Corporate governance in Chinese listed firms Hongmei Xu |
| title_fullStr | Corporate governance in Chinese listed firms Hongmei Xu |
| title_full_unstemmed | Corporate governance in Chinese listed firms Hongmei Xu |
| title_short | Corporate governance in Chinese listed firms |
| title_sort | corporate governance in chinese listed firms |
| topic | Corporate Governance (DE-588)4419850-4 gnd Aktiengesellschaft (DE-588)4000937-3 gnd |
| topic_facet | Corporate Governance Aktiengesellschaft China Hochschulschrift |
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