Ownership Concentration, Identity and Firm Performance: Evidence from China’s Listed Firms

Hongmei Wang, Jun Wu, Yuhong Yang, Ruihai Li and Yuping Liu

Emerging Markets Finance and Trade, 2019, vol. 55, issue 15, 3653-3666

Abstract: Ownership concentration and ownership identity are important corporate governance mechanisms. This paper seeks to understand how ownership concentration and identity affect firm performance in an important emerging economy-China. It hypothesizes that differences in firm performance are a result of various ownership structures and ownership identity. Using data of Chinese listed companies from 2007–2017, it tests those hypotheses and finds that ownership concentration has a positive effect in firm performance and corporate ownership leads to higher firm performance than financial ownership. The study shows that firms in China benefit more from foreign ownership than firms with only domestic ownership.

Date: 2019
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DOI: 10.1080/1540496X.2019.1672042

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