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The impact of related party transactions on the operational performance of listed companies in China

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  • Yenpao Chen
  • Chien-Hsun Chen
  • Weiju Chen
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    Abstract

    This study uses a comprehensive sample of 763 Chinese listed companies to explore the relationship between the extent of related party transactions and operational performance. The empirical results show that when the listed company is controlled by a related party, the higher the level of related party transactions, the worse the operational performance of the listed company; this is particularly true in the case of related party transactions that involve sales, loans, guarantees and mortgages, or leases. There is thus a clear need to improve the regulation of related party transactions and the related disclosure requirements.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/17487870903314575
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Journal of Economic Policy Reform.

    Volume (Year): 12 (2009)
    Issue (Month): 4 ()
    Pages: 285-297

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    Handle: RePEc:taf:jpolrf:v:12:y:2009:i:4:p:285-297

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    Related research

    Keywords: related party transactions; corporate governance; ownership structure;

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