 Corporate governance of Chinese privatized firms: Evidence from a survey of non-listed enterprisesJournal of Comparative Economics, 2015, vol. 43, issue 4, 1101-1121 Abstract: By using a dataset containing over 1200 Chinese non-listed firms, this study examines the corporate governance of privatized firms. Based on the summary statistics for 22 governance structures, I find that privatized domestic private firms have set up stronger governance than domestic private firms that have not experienced privatization. I propose seven hypotheses to explain the leading performance of privatized firms on corporate governance. I find that while some differences are explained by the diversity of firm-level characteristics, privatized firms’ better performance on setting up a board of directors and providing the CEO with company shares is highly robust. Finally, I find strong correlations between local governments’ fiscal conditions in the privatization year and privatized firms’ governance, which suggests a significant role played by local governments in shaping corporate governance during the privatization process. Keywords: Corporate governance; Privatized firms; Non-listed firms (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jcecon:v:43:y:2015:i:4:p:1101-1121 DOI: 10.1016/j.jce.2015.05.003 Access Statistics for this article Journal of Comparative Economics is currently edited by D. Berkowitz and G. Roland More articles in Journal of Comparative Economics from Elsevier |
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