Management Ownership and Corporate Performance: Empirical Evidence from Private Listed Firms in China

摘要：

Management ownership have two contrary effects on corporate performance, the convergence of interest effect and the entrenchment effect. Using a sample of private listed firms during 2002 to 2005, we investigate the relationship between management ownership and corporate performance. We find that the proportion of management ownership is positive associated with Tobins q, and there is no reverse U relationship between management ownership and corporate performance. In summary, our results support for the convergence of interest effect.

关键词： Management Ownership Corporate Performance The Convergence of Interest Effect The Entrenchment Effect

作者: GAO Jie DU Jinmin

作者单位: School of Economics, Jinan University, P.R.China, 510632

会议类型: 国际会议

会议名称: 2008年国际应用统计学术研讨会(2008 International Institute of Applied Statistics Studies)

会议地点: 烟台

会议语种:英文

页码: 1-5

在线出版日期: 2008-08-14（万方平台首次上网日期，不代表论文的发表时间）