Managerial ownership, corporate governance and firms' exporting decisions: evidence from Chinese listed companies
Research output: Contribution to journal › Article › peer-review
Authors
Colleges, School and Institutes
External organisations
- Durham University
- Department of Finance, University of Jaffna, Jaffna, Sri Lanka
Abstract
Using a large panel of Chinese listed companies over the period 2004–2010, we document that both export propensity and intensity increase with managerial ownership up to a point of around 23–27% and decrease thereafter. In addition, we find a negative association between state ownership and export intensity. Finally, we observe that the larger their board of directors, the lower firms’ export propensity and intensity, and that firms with a higher proportion of independent directors in the board are generally less likely to export. These findings are mainly driven by privately controlled firms during the post-2006 period.
Details
Original language | English |
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Journal | European Journal of Finance |
Early online date | 20 Apr 2015 |
Publication status | E-pub ahead of print - 20 Apr 2015 |