Managerial Ownership, Corporate Governance, and Firms’ Exporting Decisions: Evidence from Chinese listed companies

Dixon, R.; Guariglia, A.; Vijayakumaran, R.

Abstract

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.

Citation

Dixon, R., Guariglia, A., & Vijayakumaran, R. (2017). Managerial Ownership, Corporate Governance, and Firms’ Exporting Decisions: Evidence from Chinese listed companies. European Journal of Finance, 23(7-9), 802-840. https://doi.org/10.1080/1351847x.2015.1025990

• Journal Article Type: Article
• Acceptance Date: Mar 2, 2015
• Online Publication Date: Apr 20, 2015
• Publication Date: 2017
• Deposit Date: Aug 15, 2016
• Publicly Available Date: Oct 20, 2016
• Journal: European Journal of Finance
• Print ISSN: 1351-847X
• Electronic ISSN: 1466-4364
• Publisher: Taylor and Francis Group
• Peer Reviewed: Peer Reviewed
• Volume: 23
• Issue: 7-9
• Pages: 802-840
• DOI: https://doi.org/10.1080/1351847x.2015.1025990
• Public URL: https://durham-repository.worktribe.com/output/1406473