Is Corporate Governance in China Related to Performance Persistence?
This paper examines the relationship between performance persistence and corporate governance (as proxied for by board characteristics and shareholder structure). We document systematic differences in performance persistence across listed companies in China during 2001–2011, and empirically demonstr...
| Authors: | ; ; |
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| Tipo de documento: | Recurso Electrónico Artigo |
| Idioma: | Inglês |
| Verificar disponibilidade: | HBZ Gateway |
| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Publicado em: |
2016
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| Em: |
Journal of business ethics
Ano: 2016, Volume: 134, Número: 4, Páginas: 575-592 |
| Outras palavras-chave: | B
board structure
B China B Governança corporativa B Performance persistence |
| Acesso em linha: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Resumo: | This paper examines the relationship between performance persistence and corporate governance (as proxied for by board characteristics and shareholder structure). We document systematic differences in performance persistence across listed companies in China during 2001–2011, and empirically demonstrate that firms with better corporate governance show higher performance persistence. The results are robust over both the short and long terms. We also find that performance persistence is an important factor in refinancing, and it can lower companies’ costs of borrowing. Overall, our findings offer important implications for business ethics, as we demonstrate how corporate governance can lower companies’ costs of debt. |
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| ISSN: | 1573-0697 |
| Obras secundárias: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-014-2385-3 |
