An Analysis on the Factors Influencing Corporate Performance of Listed Bio-pharmaceutical Companies －－Evidence from China
the paper analyses and verifies the ? influencing factors on Bio-pharmaceutical corporate performance from ownership structure, capital structure and corporate governance. The result shows that the proportion of top ten shareholding, the proportion of corporate shares, the top three executive pay and firm size are all significantly and positively correlated with corporate performance, and the growth of fixed assets and equity ratio are both negatively correlated with corporate performance, but the growth of intangible assets has no significant influence on corporate performance. Besides, we verify that time lag effect exits between the proportion of independent directors and corporate performance, and by endogenous test, the relation between the proportion of largest shareholding and corporate performance is low right high left U-shaped.
influencing factors panel data endogencity
SUN Yichi AN Xin
School of Management, Shenyang University of Technology, Shenyang, China, 110178
国际会议
大连
英文
180-185
2011-06-30（万方平台首次上网日期，不代表论文的发表时间）