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...
| Autori: | ; ; |
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| Tipo di documento: | Elettronico Articolo |
| Lingua: | Inglese |
| Verificare la disponibilità: | HBZ Gateway |
| Journals Online & Print: | Caricamento...
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| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Pubblicazione: |
2016
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| In: |
Journal of business ethics
Anno: 2016, Volume: 134, Fascicolo: 4, Pagine: 575-592 |
| Altre parole chiave: | B
board structure
B Corporate governance B China B Performance persistence |
| Accesso online: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Riepilogo: | 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 |
| Comprende: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/s10551-014-2385-3 |
