Tunneling Behavior and Corporate Performance: Evidence from Chinese IPO Firms

摘要：

With the sample of Chinese initial public offering (IPO) firms in 2000 and 2001, this paper investigates the relationship between tunneling behavior and corporate performance. We find a significantly negative relationship between tunneling behavior and corporate performance of IPO firm: the more serious tunneling behavior is, the poorer corporate performance becomes. Furthermore, we find that tunneling behavior and corporate performance is significantly endogenous. Tunneling behavior has negative effect on corporate performance, while corporate performance negatively affects tunneling behavior in reverse. The poorer corporate performance is, the more serious tunneling behavior becomes. So tunneling behavior can do great harm to companies and must be punished severely.

关键词： IPO Tunneling Behavior Corporate Performance

作者: Li Jin Li Shiming Xiong Xiaozhou

作者单位: Management School of University of Electronic Science and Technology, P. R. China, 610054

会议类型: 国际会议

会议名称: The 1st International Conference on Risk Analysis and Crisis Response(首届风险分析与危机反应国际学术研讨会)

会议地点: 上海

会议语种:英文

页码: 479-483

在线出版日期: 2007-09-25（万方平台首次上网日期，不代表论文的发表时间）