Corporate governance and corporate performance: some evidence from newly listed firms on Chinese stock markets

Langnan Chen, Steven Li and Weibin Lin

International Journal of Accounting, Auditing and Performance Evaluation, 2007, vol. 4, issue 2, 183-197

Abstract: This paper is concerned with some corporate governance issues related to newly listed firms in China, based on a sample of 329 firms commencing listing on Shanghai Stock Exchange (SHSE) and Shenzhen Stock exchange (SZSE) during the period from 1998 to 2000. We first investigate the impact of ownership change due to stock market listing on corporate performance measured in terms of profitability, sales, leverage and employee productivity. Our results indicate that, on average, profitability, sales and employee productivity have improved from pre-listing to post-listing. We further investigate the impacts of state majority control, foreign ownership and regulation effects on corporate performance. Overall, this paper provides some new evidence on the listing effect, ownership structure and regulation effect on Chinese firms which will be valuable to the future reform of state owned enterprises.

Keywords: corporate governance; corporate performance; state-owned enterprises; Chinese stock market; China; business governance; ownership change; profitability; sales; leverage; employee productivity; state majority control; foreign ownership; regulation. (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.inderscience.com/link.php?id=15233 (text/html)
Access to full text is restricted to subscribers.

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:ids:ijaape:v:4:y:2007:i:2:p:183-197

Access Statistics for this article

More articles in International Journal of Accounting, Auditing and Performance Evaluation from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().