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Board leadership structure for Chinese public listed companies

Research output: Contribution to journal › Article › peer-review

Standard Standard

Board leadership structure for Chinese public listed companies. / Yu, M.; Ashton, J.K.
In: China Economic Review, Vol. 34, 27.01.2015, p. 236-248.

Research output: Contribution to journal › Article › peer-review

HarvardHarvard

Yu, M & Ashton, JK 2015, 'Board leadership structure for Chinese public listed companies', China Economic Review, vol. 34, pp. 236-248. https://doi.org/10.1016/j.chieco.2015.01.010

APA

Yu, M., & Ashton, J. K. (2015). Board leadership structure for Chinese public listed companies. China Economic Review, 34, 236-248. https://doi.org/10.1016/j.chieco.2015.01.010

CBE

Yu M, Ashton JK. 2015. Board leadership structure for Chinese public listed companies. China Economic Review. 34:236-248. https://doi.org/10.1016/j.chieco.2015.01.010

MLA

Yu, M. and J.K. Ashton. "Board leadership structure for Chinese public listed companies". China Economic Review. 2015, 34. 236-248. https://doi.org/10.1016/j.chieco.2015.01.010

VancouverVancouver

Yu M, Ashton JK. Board leadership structure for Chinese public listed companies. China Economic Review. 2015 Jan 27;34:236-248. doi: 10.1016/j.chieco.2015.01.010

Author

Yu, M. ; Ashton, J.K. / Board leadership structure for Chinese public listed companies. In: China Economic Review. 2015 ; Vol. 34. pp. 236-248.

RIS

TY - JOUR

T1 - Board leadership structure for Chinese public listed companies

AU - Yu, M.

AU - Ashton, J.K.

PY - 2015/1/27

Y1 - 2015/1/27

N2 - It is widely accepted that board leadership structure and whether the chairperson and CEO roles should be undertaken jointly or separately affects the performance of a firm. Despite this consensus, empirical evidence presents major uncertainties as to the direction and degree of this influence. This study contributes to this debate by examining the relationship between board leadership structure and firm performance and the expense ratio, using propensity-score matching methods for Chinese PLCs from 2003–2010. It is reported that whilst CEO duality is not related to companies' profitability ratios, it is linked to a higher expense ratio compared to matched companies with a separate board leadership structure. This indicates that a separate board leadership structure is an effective corporate governance arrangement to reduce agency costs for Chinese PLCs.

AB - It is widely accepted that board leadership structure and whether the chairperson and CEO roles should be undertaken jointly or separately affects the performance of a firm. Despite this consensus, empirical evidence presents major uncertainties as to the direction and degree of this influence. This study contributes to this debate by examining the relationship between board leadership structure and firm performance and the expense ratio, using propensity-score matching methods for Chinese PLCs from 2003–2010. It is reported that whilst CEO duality is not related to companies' profitability ratios, it is linked to a higher expense ratio compared to matched companies with a separate board leadership structure. This indicates that a separate board leadership structure is an effective corporate governance arrangement to reduce agency costs for Chinese PLCs.

U2 - 10.1016/j.chieco.2015.01.010

DO - 10.1016/j.chieco.2015.01.010

M3 - Article

VL - 34

SP - 236

EP - 248

JO - China Economic Review

JF - China Economic Review

SN - 1043-951X

ER -