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政大機構典藏 > 商學院 > 財務管理學系 > 學位論文 > Item 140.119/36698

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/36698

Title:	大陸民營化與公司治理之長期績效研究 The Long-run performance of privatization and corporate governance in China
Authors:	簡曉薇 Chien, Hsiao-Wei
Contributors:	劉玉珍 Liu, Yu-Jane 簡曉薇 Chien, Hsiao-Wei
Date:	2001
Issue Date:	2009-09-18 19:19:02 (UTC+8)
Abstract:	無 We attempt to examine the long-run performance of privatization and the ownership structure. Previous studies focused on the long-run performance, operating performance of privatization, or ownership related to corporate values of Initial Public Offerings (IPOs) , separately. This study contributes to the long-run performance of privatization and corporate governance in China. We have examined 756 IPOs listed on China`s Shanghai and Shenzhen stock exchanges from 1993 to 1998, and our findings indicated privatization did improve the long-term performance of IPOs in China. The long-run performance of IPOs is negatively related to the proportion of state-owned shares. We also found that corporate governance did improve IPO long-run performance; the addition of employee shares, legal-person shares, and directorial shareholdings are positively related to the long-run performance of IPOs. Besides, if it exists a second largest shareholder, the long-run performances of these IPOs perform well. But the addition of public shareholding is negatively correlated to the long-run performance of IPOs in China. These findings suggested that the ownership structure compositions could affect the long-run performance of listed firms in China. Key words : privatization, corporate governance, ownership structure, state shareholding, government shareholding, stock market, China.
Description:	碩士國立政治大學財務管理研究所 89357020 90
Source URI:	http://thesis.lib.nccu.edu.tw/record/#G91NCCU2872012
Data Type:	thesis
Appears in Collections:	[財務管理學系] 學位論文

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