Research on the Relationship between Corporate Governance Structure and Diversification Strategy

摘要：

Based on agency theory, this paper studied on the relationship between corporate governance structure and diversification strategy. Choosing 520 listed companies in Shanghai stock on December 31, 2009 as research samples, the paper did an empirical study on the impact of corporate governance structure on diversification strategy. The result showed that concentration of ownership, proportion of legal person shares and proportion of independent directors all had negative correlation with diversification degree significantly; proportion of state owned shares, board size and management compensation all had positive correlation with diversification degree significantly. The empirical result confirmed the theoretical hypothesises and supported the explanation of diversification discount under agency theory.

作者: SONG Hai-xu WANG Fu-sheng

作者单位: Department of Accounting Harbin Institute of Technology Harbin, China

会议类型: 国际会议

会议名称: International Conference on Management and Service Science(2011年第五届管理与服务科学国际会议 MASS 2011)

会议地点: 武汉

会议语种:英文

页码: 1-4

在线出版日期: 2011-08-12（万方平台首次上网日期，不代表论文的发表时间）