Going Public with Good Governance: evidence from China
Board characteristics have not been a significant area of study in the IPO literature. We focus on the emerging corporate governance reform in China to investigate the relationship between a range of board characteristics and IPO initial returns and long-term performance. We find evidence that board size is positively related to short-term returns, while in the long-term, a positive relationship exists between performance and the voluntary post-listing separation of the roles of CEO and Chair of the Board. Our long-term results suggest that at least some Chinese listed firms are actively and voluntarily moving toward better governance structures. Copyright (c) 2007 The Authors; Journal compilation (c) 2007 Blackwell Publishing Ltd.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 15 (2007)
Issue (Month): 6 (November)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0964-8410&site=1|
|Order Information:||Web: http://www.blackwellpublishing.com/journal.asp?ref=0964-8410&site=1|
When requesting a correction, please mention this item's handle: RePEc:bla:corgov:v:15:y:2007:i:6:p:1190-1202. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.