@article{Liu_Atinc_Kroll_2011, place={Huntsville, Texas}, title={The Unique Nature of Chinese Corporate Governance Practices}, volume={28}, url={https://jbs-ojs-shsu.tdl.org/jbs/article/view/101}, DOI={10.54155/jbs.28.1.23-51}, abstractNote={<p>This study investigates a fairly broad array of factors which may influence<br>Chinese corporate governance and examines the relationships between firm age, top<br>management team age, board structure, ownership structure and firm performance<br>in publicly-listed Chinese firms. As we anticipated, owing to the unique context of<br>corporate China, results support a negative relationship between firm age and firm<br>performance, a positive relationship between percentage of independent directors<br>and firm performance, and a positive relationship between the presence of foreign<br>blockholders and firm performance. This study also found a positive relationship<br>between the percentages of shares owned by the state as a blockholder and firm performance,<br>but found that neither private nor institutional blockholders influence firm<br>outcomes. Results also indicate that the relationship between top management age<br>and firm performance is mediated by firm size. The expected negative relationship<br>between CEO duality and performance and positive relationship between board size<br>and firm performance is not supported. These results indicate that there are some<br>unique features of Chinese governance practices that need to be considered by researchers<br>seeking to test the applicability of western theories in the Chinese context.</p>}, number={1}, journal={Journal of Business Strategies}, author={Liu, Yan and Atinc, Guclu and Kroll, Mark}, year={2011}, month={Mar.}, pages={23–51} }