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- Publisher Website: 10.1111/j.1740-8784.2007.00090.x
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Article: Principal-principal conflict in the governance of the Chinese public corporation
Title | Principal-principal conflict in the governance of the Chinese public corporation |
---|---|
Authors | |
Keywords | Agency costs Board of directors China Ownership concentration Principal-principal conflict |
Issue Date | 2008 |
Publisher | Blackwell Publishing Ltd. |
Citation | Management And Organization Review, 2008, v. 4 n. 1, p. 17-38 How to Cite? |
Abstract | By examining the level of ownership concentration across firms, we determine how principal-principal conflict, defined as the incongruence of ownership goals among shareholder groups in a corporation, impacts agency costs of Chinese boards of directors. Based on data from Chinese companies listed on the Shanghai and Shenzhen stock exchanges during 1999-2003, we found that ownership concentration had a U-shaped relationship with board compensation, board size and the presence of independent directors. These results provide corroborating evidence that principal-principal conflict can lead to high agency costs. © 2008 Blackwell Publishing Ltd. |
Persistent Identifier | http://hdl.handle.net/10722/86065 |
ISSN | 2023 Impact Factor: 2.6 2023 SCImago Journal Rankings: 1.037 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Su, Y | en_HK |
dc.contributor.author | Xu, D | en_HK |
dc.contributor.author | Phan, PH | en_HK |
dc.date.accessioned | 2010-09-06T09:12:24Z | - |
dc.date.available | 2010-09-06T09:12:24Z | - |
dc.date.issued | 2008 | en_HK |
dc.identifier.citation | Management And Organization Review, 2008, v. 4 n. 1, p. 17-38 | en_HK |
dc.identifier.issn | 1740-8776 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/86065 | - |
dc.description.abstract | By examining the level of ownership concentration across firms, we determine how principal-principal conflict, defined as the incongruence of ownership goals among shareholder groups in a corporation, impacts agency costs of Chinese boards of directors. Based on data from Chinese companies listed on the Shanghai and Shenzhen stock exchanges during 1999-2003, we found that ownership concentration had a U-shaped relationship with board compensation, board size and the presence of independent directors. These results provide corroborating evidence that principal-principal conflict can lead to high agency costs. © 2008 Blackwell Publishing Ltd. | en_HK |
dc.language | eng | en_HK |
dc.publisher | Blackwell Publishing Ltd. | en_HK |
dc.relation.ispartof | Management and Organization Review | en_HK |
dc.rights | Management & Organization Review. Copyright © Blackwell Publishing Ltd. | en_HK |
dc.subject | Agency costs | en_HK |
dc.subject | Board of directors | en_HK |
dc.subject | China | en_HK |
dc.subject | Ownership concentration | en_HK |
dc.subject | Principal-principal conflict | en_HK |
dc.title | Principal-principal conflict in the governance of the Chinese public corporation | en_HK |
dc.type | Article | en_HK |
dc.identifier.openurl | http://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1740-8776&volume=4&spage=17&epage=38&date=2008&atitle=Principal-principal+conflict+in+the+governance+of+the+Chinese+public+corporation | en_HK |
dc.identifier.email | Xu, D: dxu@business.hku.hk | en_HK |
dc.identifier.authority | Xu, D=rp01119 | en_HK |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1111/j.1740-8784.2007.00090.x | en_HK |
dc.identifier.scopus | eid_2-s2.0-68849116957 | en_HK |
dc.identifier.hkuros | 145612 | en_HK |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-68849116957&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 4 | en_HK |
dc.identifier.issue | 1 | en_HK |
dc.identifier.spage | 17 | en_HK |
dc.identifier.epage | 38 | en_HK |
dc.identifier.isi | WOS:000256658200002 | - |
dc.publisher.place | United Kingdom | en_HK |
dc.identifier.scopusauthorid | Su, Y=32868140400 | en_HK |
dc.identifier.scopusauthorid | Xu, D=7404073938 | en_HK |
dc.identifier.scopusauthorid | Phan, PH=6603833294 | en_HK |
dc.identifier.citeulike | 2385768 | - |
dc.identifier.issnl | 1740-8776 | - |