An Empirical Study on Firm Performance and Governance in New Ventures
New ventures governance mechanisms are different from others.In this paper,we attempt to investigate the relationship between various corporate governance mechanisms and performance based on the view of stakeholders in new ventures.Using the empirical data of small and medium listed companies in China in 2006,we observe that frequencies of the board meetings,CEO pay,if the senior managersstock ownership is at least 5% but not over 25% of total shares outstanding,transparency of financial reporting,and the size of new venture are positively associated with new venture performance,while the change of CEO,stock intensive ratio,current stock ratio,and debt ratio are negatively associated with new venture performance.
Corporate governance New ventures Performance Stakeholder
Baochun Guo
Management School,Jinan University,Guangzhou,P.R.China,510632
国际会议
长沙
英文
259-266
2008-10-28（万方平台首次上网日期，不代表论文的发表时间）