Clan culture and family ownership concentration: Evidence from China

Jiameng Cheng, Yanke Dai, Shu Lin and Haichun Ye

China Economic Review, 2021, vol. 70, issue C

Abstract: This study explores a cultural determinant of family ownership concentration of a corporate. Using hand-collected Chinese genealogy information and a panel of Chinese listed family firms, we find robust evidence that clan culture influences are associated with a significantly higher family ownership concentration. By taking advantage of firm owner birthplace information, we are able to separate the impact of inherited clan culture from that of external environmental factors. To further establish causality, we also employ an instrumental variable (IV) regression strategy and explore the underlying mechanisms.

Keywords: Corporate ownership structure; Family ownership; Clan culture; China (search for similar items in EconPapers)
JEL-codes: G32 N25 Z1 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1043951X21001103
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:chieco:v:70:y:2021:i:c:s1043951x21001103

DOI: 10.1016/j.chieco.2021.101692

Access Statistics for this article

China Economic Review is currently edited by B.M. Fleisher, K. X. D. Huang, M.E. Lovely, Y. Wen, X. Zhang and X. Zhu

More articles in China Economic Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().