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- Publisher Website: 10.1007/s11575-008-0017-9
- Scopus: eid_2-s2.0-70449111768
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Article: The Financial and Operating Performance of Chinese Family-Owned Listed Firms
Title | The Financial and Operating Performance of Chinese Family-Owned Listed Firms |
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Authors | |
Keywords | China Family-Owned Firms Performance State-Owned Firms |
Issue Date | 2008 |
Publisher | Springer Gabler. The Journal's web site is located at http://www.mir-online.de |
Citation | Management International Review, 2008, v. 48 n. 3, p. 297-318 How to Cite? |
Abstract | While existing studies often use sector-level data to explain the phenomenal growth of the Chinese private sector, this paper complements the literature by using firmlevel data to conduct a comparative study of performance between family-owned and state-owned firms in China. Taking a population comprising listed firms for the period 1999-2004, we analyze financial and operating performance with reference to five measures: (1) revenue per employee, (2) revenue per unit of cost, (3) net profit per employee, (4) return on assets, and (5) market-to-book ratio. Having controlled for other firm characteristics, such as size, leverage, firm age, sales volatility, innovation and marketing, institutional environment and industry, our results confirm that family-owned firms achieve significantly better performances than state-owned enterprises. These results support the general consensus that China is increasingly reliant on private companies as an engine for economic growth and an employment hub. © Gabler Verlag 2008. |
Persistent Identifier | http://hdl.handle.net/10722/177769 |
ISSN | 2023 Impact Factor: 3.9 2023 SCImago Journal Rankings: 1.250 |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Ding, Y | en_US |
dc.contributor.author | Zhang, H | en_US |
dc.contributor.author | Zhang, J | en_US |
dc.date.accessioned | 2012-12-19T09:39:51Z | - |
dc.date.available | 2012-12-19T09:39:51Z | - |
dc.date.issued | 2008 | en_US |
dc.identifier.citation | Management International Review, 2008, v. 48 n. 3, p. 297-318 | en_US |
dc.identifier.issn | 0938-8249 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177769 | - |
dc.description.abstract | While existing studies often use sector-level data to explain the phenomenal growth of the Chinese private sector, this paper complements the literature by using firmlevel data to conduct a comparative study of performance between family-owned and state-owned firms in China. Taking a population comprising listed firms for the period 1999-2004, we analyze financial and operating performance with reference to five measures: (1) revenue per employee, (2) revenue per unit of cost, (3) net profit per employee, (4) return on assets, and (5) market-to-book ratio. Having controlled for other firm characteristics, such as size, leverage, firm age, sales volatility, innovation and marketing, institutional environment and industry, our results confirm that family-owned firms achieve significantly better performances than state-owned enterprises. These results support the general consensus that China is increasingly reliant on private companies as an engine for economic growth and an employment hub. © Gabler Verlag 2008. | en_US |
dc.language | eng | en_US |
dc.publisher | Springer Gabler. The Journal's web site is located at http://www.mir-online.de | en_US |
dc.relation.ispartof | Management International Review | en_US |
dc.subject | China | en_US |
dc.subject | Family-Owned Firms | en_US |
dc.subject | Performance | en_US |
dc.subject | State-Owned Firms | en_US |
dc.title | The Financial and Operating Performance of Chinese Family-Owned Listed Firms | en_US |
dc.type | Article | en_US |
dc.identifier.email | Zhang, J: jjzhang@econ.hku.hk | en_US |
dc.identifier.authority | Zhang, J=rp01124 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1007/s11575-008-0017-9 | en_US |
dc.identifier.scopus | eid_2-s2.0-70449111768 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-70449111768&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 48 | en_US |
dc.identifier.issue | 3 | en_US |
dc.identifier.spage | 297 | en_US |
dc.identifier.epage | 318 | en_US |
dc.publisher.place | Germany | en_US |
dc.identifier.scopusauthorid | Ding, Y=7404136394 | en_US |
dc.identifier.scopusauthorid | Zhang, H=7409193741 | en_US |
dc.identifier.scopusauthorid | Zhang, J=55367373100 | en_US |
dc.identifier.citeulike | 3623532 | - |
dc.identifier.issnl | 0938-8249 | - |