RT Article
T1 Is Corporate Governance in China Related to Performance Persistence?
JF Journal of business ethics
VO 134
IS 4
SP 575
OP 592
A1 Haß, Lars Helge
A1 Johan, Sofia Atiqah 1972-
A1 Schweizer, Denis
A2 Johan, Sofia Atiqah 1972-
A2 Schweizer, Denis
LA English
YR 2016
UL https://ixtheo.de/Record/1785657216
AB 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.
K1 Performance persistence
K1 Corporate Governance
K1 China
K1 board structure
DO 10.1007/s10551-014-2385-3