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      The influence of the degree of state ownership and the ownership concentration on the performance of listed Chinese companies

      Gunasekarage, Abeyratna; Hess, Kurt; Hu, Amity
      DOI
       10.1016/j.ribaf.2007.02.002
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      Gunasekarage, A., Hess, K. & Hu, A. (2007). The influence of the degree of state ownership and the ownership concentration on the performance of listed Chinese companies. Research in International Business and Finance, 21(3), 379-395.
      Permanent Research Commons link: https://hdl.handle.net/10289/1966
      Abstract
      This study investigates the influence of the degree of state ownership and ownership concentration on firm performance using annual data for 1034 companies listed on China's two exchanges for the period from 2000 to 2004. We find that, on average, the firms’ performance is negatively influenced by the state ownership. However, such a negative relationship is significant only at high levels of government ownership. Moreover, we find that a balanced ownership structure enhances the firm performance and there are indications of detrimental effects of block ownership.
      Date
      2007
      Type
      Journal Article
      Publisher
      J A I Press Inc
      Collections
      • Management Papers [1136]
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