Change in Control Impacts on Chinese Listed Companys Operating Performance
In this paper, based on the summary of previous research and theoretical literature, we take one of the mainstream empirical methods innovatively select business return on assets (Oroa) as the measure of operating performance indicators of listed companies, research on the operating performance of the target listed companies after the change in control. Then, conclusions are as followings: (1) It is relative between change in control and operating performance, but not obvious in improve performance. (2) It is negative correlation between premium rates and operating performance after change in control. (3) It is negative correlation between chairman of the board or general manager changed after change in control and operating performance while is positive current or next year.
Listed companies Change in control Operating performance
LI Dan
School of Economics and Management, Shanghai Maritime University, China, 200135
国际会议
The 5th International Sympsium for Corporate Governance(第五届公司治理国际研讨会)
天津
英文
609-615
2009-09-01（万方平台首次上网日期，不代表论文的发表时间）