지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
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연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
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Corporate governance has been one of the key issues in understanding corporate performances in the Chinese firms. Despite their vital roles, Corporate governance has not been well defined and studied yet, which seems to be largely attributed to ambiguities in the state ownership structures. This paper has challenged to verify that the portions of state-owned shares and legal entity shares could not be a proper indices for corporate ownership in China, but also the types of controlling shareholders could be more appropriate. Based on classification of ownership forms by their ultimate shareholders, this paper argues that firms with inferior ownership structures such as local government directly and indirectly controlled state-owned companies appears to have lower corporate valuations than the cental SOEs. The state-owned companies generally have lower market valuations than non-SOEs, which represents SOEs inferior ownership structures.
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참고문헌 (26)
참고문헌 신청
Bai, Chinf-en / 2006 / An Empirical Study on Corporate Governance and Market Valuation in China / Econ :83~111
Groves, Theredore / Autonomy and Incentives in Chinese State Enterprises / Quarterly Journal of Economics 109:183~209
Gordon, Roger H. / The Change in Productivity of Chinese State Enterprises, 1983-1987 / Journal of Productivity Analysis 6:5~16
Holz, Carsten A / The Myth of the Liability-asset ratio on Profitability in China’s industrial state-owned enterprises / China Economic Review 13:1~26
Jefferson, Gary. H. / Growth, Efficiency and Convergence in China’s State and Collective Industry / Econ Develop 40:239~166
Groves, Theredore / Autonomy and Incentives in Chinese State Enterprises / Quarterly Journal of Economics 109:183~209
Gordon, Roger H. / The Change in Productivity of Chinese State Enterprises, 1983-1987 / Journal of Productivity Analysis 6:5~16
Holz, Carsten A / The Myth of the Liability-asset ratio on Profitability in China’s industrial state-owned enterprises / China Economic Review 13:1~26
Jefferson, Gary. H. / Growth, Efficiency and Convergence in China’s State and Collective Industry / Econ Develop 40:239~166
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