Does one size fit all? A study of the simultaneous relations among ownership, corporate governance mechanisms, and the financial performance of firms in China
Document Type
Book chapter
Source Publication
Corporate Governance: Recent Developments and New Trends
Publication Date
12-19-2012
First Page
29
Last Page
57
Publisher
Springer-Verlag
Abstract
We draw on the many aspects of corporate governance examined in the developed economies and extend them to the Chinese environment. We find evidence of strong linkage and interdependence in the use of different control mechanisms. While there are significant relations between the governance control mechanisms and firm performance, these disappear when using simultaneous equation estimation. Our findings support the argument that governance control mechanisms are substitutes for one another and there is no one set of mechanisms that are optimal in maximizing firms' performances.
DOI
10.1007/978-3-642-31579-4_2
Publisher Statement
Copyright © Springer-Verlag Berlin Heidelberg 2012. All rights are reserved. Access to external full text or publisher's version may require subscription.
Additional Information
ISBN of the source publication: 9783642315787
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Firth, M. A., & Rui, O. M. (2012). Does one size fit all? A study of the simultaneous relations among ownership, corporate governance mechanisms, and the financial performance of firms in China. In S. Boubaker, B. D. Nguyen, & D. K. Nguyen (Eds.), Corporate Governance: Recent Developments and New Trends (pp.29-57). Berlin: Springer. doi: 10.1007/978-3-642-31579-4_2