Abstract
This paper provides a parallel investigation of the impact of board composition, board activity and ownership concentration on the performance of listed Chinese firms. We find that independent directors enhance firm performance more effectively than other board factors. The frequency of shareholder meetings, rather than board meetings, is positively associated with firm value. Tradable share ownership concentration has a positive and linear relationship with firm value, while state and total share ownership concentration represent U(V) shapes. Importantly, companies with the highest levels of both total share and tradable share ownership concentration have a greater firm values than those with the highest levels of only a single concentration.
| Original language | English |
|---|---|
| Pages (from-to) | 42-61 |
| Number of pages | 20 |
| Journal | Problems and Perspectives in Management |
| Volume | 7 |
| Issue number | 3 |
| Publication status | Published - 2009 |
| Externally published | Yes |