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DP1034.pdf | 26.84 MB | Adobe PDF | 見る/開く |
タイトル: | Corporate Ownership and Managerial Turnover in Chinaand Eastern Europe : A Comparative Meta-Analysis |
著者: | Iwasaki, Ichiro Ma, Xinxin Mizobata, Satoshi |
キーワード: | corporate ownership managerial turnover meta-analysis publication selection bias China Eastern Europe |
発行日: | Jul-2020 |
出版者: | Institute of Economic Research, Kyoto University |
誌名: | KIER Discussion Paper |
巻: | 1034 |
開始ページ: | 1 |
終了ページ: | 35 |
抄録: | In this paper, we perform a meta-analysis of 736 estimates extracted from 31 previous studies to compare China and Eastern Europe from the viewpoint of the relationship between corporate ownership and managerial turnover. Our results strongly suggest the presence of asymmetric circumstances between the two. Namely, in Eastern Europe, private outside investors and large shareholders exert a positive influence on the managerial discipline of the companies they invest in, and the government is also actively involved in the corporate governance of state-owned enterprises. In contrast, the Chinese government and the Communist Party of China have such significant control over companies as corporate owners that private shareholders only have limited influence over top management. In this sense, Chinese firms are more likely than their East European counterparts to face greater problems in corporate governance. |
URI: | http://hdl.handle.net/2433/262351 |
関連リンク: | https://www.kier.kyoto-u.ac.jp/publication/?cat=en |
出現コレクション: | KIER Discussion Paper (英文版) |
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