Corporate Governance and Capital Structure Decisions of the Chinese Listed Firms

Share/Save/Bookmark

Wen, Yu and Rwegasira, Kami and Bilderbeek, Jan (2002) Corporate Governance and Capital Structure Decisions of the Chinese Listed Firms. Corporate Governance: An International Review, 10 (2). pp. 75-83. ISSN 0964-8410

[img]PDF
Restricted to UT campus only
: Request a copy
93Kb
Abstract:This paper studies the relationship between some characteristics of the corporate board and the firm’s capital structure in Chinese listed firms. The findings provide some preliminary empirical evidence and seem to suggest that managers tend to pursue lower financial leverage when they face stronger corporate governance from the board. However, the empirical results of the relationships are statistically significant only in the case of the board composition and the CEO tenure. The results are statistically insignificant in the case of the board size and fixed CEO compensation. This may in general suggest that, up to the time period of our investigation, the corporate board structures and processes in Chinese listed firms might not as yet be fully working in the manner, or as well, as might have been so far assumed on the basis of Western theoretical finance literature.
Item Type:Article
Copyright:© 2002 Wiley InterScience
Research Chair:
Link to this item:http://purl.utwente.nl/publications/58380
Official URL:http://dx.doi.org/10.1111/1467-8683.00271
Export this item as:BibTeX
EndNote
HTML Citation
Reference Manager

 

Repository Staff Only: item control page

Metis ID: 206166