Dixon, R. and Guariglia, A. and Vijayakumaran, R. (2017) 'Managerial ownership, corporate governance and firms' exporting decisions : evidence from Chinese listed companies.', European journal of finance., 23 (7-9). pp. 802-840.
Using a large panel of Chinese listed companies over the period 2004–2010, we document that both export propensity and intensity increase with managerial ownership up to a point of around 23–27% and decrease thereafter. In addition, we find a negative association between state ownership and export intensity. Finally, we observe that the larger their board of directors, the lower firms' export propensity and intensity, and that firms with a higher proportion of independent directors in the board are generally less likely to export. These findings are mainly driven by privately controlled firms during the post-2006 period.
|Full text:||(AM) Accepted Manuscript|
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|Publisher Web site:||https://doi.org/10.1080/1351847X.2015.1025990|
|Publisher statement:||This is an Accepted Manuscript of an article published by Taylor & Francis Group in European Journal of Finance on 20/04/2015, available online at: http://www.tandfonline.com/10.1080/1351847X.2015.1025990.|
|Date accepted:||02 March 2015|
|Date deposited:||15 August 2016|
|Date of first online publication:||20 April 2015|
|Date first made open access:||20 October 2016|
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