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Does Corporate Governance Matter in the Contractual Form of Fund Management Companies in China?

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  • Ping Yu
  • On Kit Tam
  • Jing Zhou

Abstract

Operating under a regulatory environment with weak enforcement of investor protection, the contractual form of fund management companies (FMCs) in China’s emerging fund industry presents some complex governance issues in addition to the conventional agency problems of modern public corporations. Using 288 firm-year observations covering more than 98 percent of FMCs in China, this article presents the first systematic study on whether the quality of corporate governance mechanisms affects the performance of the contractual form of FMCs. Our results suggest that FMCs with good corporate governance do matter in generating favorable performance for fund investors in China.

Suggested Citation

  • Ping Yu & On Kit Tam & Jing Zhou, 2015. "Does Corporate Governance Matter in the Contractual Form of Fund Management Companies in China?," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 51(S4), pages 89-103, July.
    • Handle: RePEc:mes:emfitr:v:51:y:2015:i:s4:p:s89-s103
    DOI: 10.1080/1540496X.2015.1026736
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    Cited by:

    1. Felix Meschke, 2019. "An Empirical Examination of Mutual Fund Boards," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 9(04), pages 1-35, December.
    2. Chao He & Lawrence Kryzanowski & Yunfei Zhao, 2023. "Political connections of Chinese fund management companies and fund performance," The Financial Review, Eastern Finance Association, vol. 58(3), pages 597-627, August.

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