Artikel
Founder control, ownership structure and firm value: Evidence from entrepreneurial listed firms in China
In emerging markets, the deviation between the ultimate controlling shareholders' voting rights and their cash flow rights (hereafter 'DVC') in the listed firms is quite prevalent. DVC could be introduced due to the ultimate controlling shareholders' opportunistic incentives, as well as by their incentives to improve firm efficiency. This study uses 229 listed firms ultimately controlled by individuals or families (hereafter 'entrepreneurial firms') for 2004 in China, to investigate the effect of DVC on firm value and to determine whether it is different between founder and non-founder controlled firms. We find that DVC has a positive effect on firm value for founder controlled firms. This result implies that investors believe that their interests are better protected by founder controlled firms than by non-founder controlled firms.
- Sprache
-
Englisch
- Erschienen in
-
Journal: China Journal of Accounting Research ; ISSN: 1755-3091 ; Volume: 1 ; Year: 2008 ; Pages: 31-49 ; Amsterdam: Elsevier
- Klassifikation
-
Management
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- Thema
-
Founder Control
Ownership Structure
Firm Value
China
Tunneling
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Xia, Lijun
- Ereignis
-
Veröffentlichung
- (wer)
-
Elsevier
- (wo)
-
Amsterdam
- (wann)
-
2008
- DOI
-
doi:10.1016/S1755-3091(13)60004-0
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Xia, Lijun
- Elsevier
Entstanden
- 2008
Ähnliche Objekte (12)
State ownership and firm performance: Empirical evidence from Chinese listed companies
Corporate governance mechanisms, ownership and firm value: Evidence from listed Chinese firms
The effect of institutional ownership on firm innovation: Evidence from Chinese listed firms
The effect of institutional ownership on firm innovation : evidence from Chinese listed firms
The heterogeneity of founding-family firms : governance, firm policy, economics, and ownership dynamics in lone founder, family founder, and heir firms
The Heterogeneity of Founding-Family Firms: Governance, Firm Policy, Economics, and Ownership Dynamics in Lone Founder, Family Founder, and Heir Firms
Firm performance, retrenchment strategy and different ownership structure: Evidence from public listed companies in Malaysia
Ownership and scope in German publicly listed corporations
Ownership and control in the entrepreneurial firm: an international history of private limited companies
Innovation Performance of Family and Founder Firms: Empirical Evidence from German Listed Companies
Firm ownership, FOEs, and POEs
Firm ownership and rent sharing
State ownership and firm performance: Empirical evidence from Chinese listed companies
Corporate governance mechanisms, ownership and firm value: Evidence from listed Chinese firms
The effect of institutional ownership on firm innovation: Evidence from Chinese listed firms
The effect of institutional ownership on firm innovation : evidence from Chinese listed firms
The heterogeneity of founding-family firms : governance, firm policy, economics, and ownership dynamics in lone founder, family founder, and heir firms
The Heterogeneity of Founding-Family Firms: Governance, Firm Policy, Economics, and Ownership Dynamics in Lone Founder, Family Founder, and Heir Firms
Firm performance, retrenchment strategy and different ownership structure: Evidence from public listed companies in Malaysia
Ownership and scope in German publicly listed corporations
Ownership and control in the entrepreneurial firm: an international history of private limited companies
Innovation Performance of Family and Founder Firms: Empirical Evidence from German Listed Companies
Firm ownership, FOEs, and POEs
Firm ownership and rent sharing
State ownership and firm performance: Empirical evidence from Chinese listed companies
Corporate governance mechanisms, ownership and firm value: Evidence from listed Chinese firms
The effect of institutional ownership on firm innovation: Evidence from Chinese listed firms
The effect of institutional ownership on firm innovation : evidence from Chinese listed firms
The heterogeneity of founding-family firms : governance, firm policy, economics, and ownership dynamics in lone founder, family founder, and heir firms
The Heterogeneity of Founding-Family Firms: Governance, Firm Policy, Economics, and Ownership Dynamics in Lone Founder, Family Founder, and Heir Firms
Firm performance, retrenchment strategy and different ownership structure: Evidence from public listed companies in Malaysia
Ownership and scope in German publicly listed corporations
Ownership and control in the entrepreneurial firm: an international history of private limited companies
Innovation Performance of Family and Founder Firms: Empirical Evidence from German Listed Companies
Firm ownership, FOEs, and POEs