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CEO’s Background Characteristics, Financing Preference and Firm Performance – Empirical Evidence From China’s A-Share Listed Companies

In: Recent Developments in Data Science and Business Analytics

Author

Listed:
  • Yongzhuang Li

    (Business School, Central University of Finance and Economics (CUFE)
    Academy of Innovation Management, CUFE)

  • Xuan Wang

    (Business School, Central University of Finance and Economics (CUFE))

  • Dehuan Zhang

    (Academy of Innovation Management, CUFE)

Abstract

We carry out regression analysis using data of 300 companies listed in China’s A-share market in 2015, and introduce the shareholdings of top ten shareholders and corporate current ratio in regression models as control variables. We reach the follow conclusions: in China, (1) gender and education background of a CEO and equity incentives have no significant impact on firm performance; (2) among China’s current A-share listed companies, excessive self-confidence does exist in CEOs, and has a negative impact on firm performance; (3) Corporate financing preference plays a partial mediator role in the relationship between CEO’s self-confidence and firm performance.

Suggested Citation

  • Yongzhuang Li & Xuan Wang & Dehuan Zhang, 2018. "CEO’s Background Characteristics, Financing Preference and Firm Performance – Empirical Evidence From China’s A-Share Listed Companies," Springer Proceedings in Business and Economics, in: Madjid Tavana & Srikanta Patnaik (ed.), Recent Developments in Data Science and Business Analytics, chapter 0, pages 193-208, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-72745-5_21
    DOI: 10.1007/978-3-319-72745-5_21
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