A Comparative Study of Chinese SOE Firm's Boards and Private Firm's Boards

Shenghui Tong, Eddy Junarsin and Chuntao Li ()
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Eddy Junarsin: Faculty of Economics and Business, Universitas Gadjah Mada

Annals of Economics and Finance, 2015, vol. 16, issue 2, 291-314

Abstract: Using 3,019 listed firms in China divided into two subsamples, we compare the characteristics of corporate governance between private firms and State Owned Enterprise (SOE) firms after they have gone public on the Chinese stock markets. We examine the differences in board structure between these two types of firms. Results show that private firms and SOE firms have different governance characteristics. Our analysis indicates that in China, although private firms and SOE firms have theoretically become public firms, the SOE firms are relatively superior to the private firms in corporate governance efficiency, especially in appointing high-caliber independent directors.

Keywords: Board of directors; Firm performance; Chinese listed firms; Private firms; State-owned enterprises (search for similar items in EconPapers)
JEL-codes: G30 G34 G38 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:cuf:journl:y:2015:v:16:i:2:tong

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