Empirical Study of Dynamic Corporate Governance Based on Chinese-listed SMEs with a PVAR Approach

• 발행기관: 한국유통과학회
• 저자명: Lin Shao Li Zhang Xiao hong Yu
• 간행물 정보: 『KODISA ICBE (International Conference on Business and Economics)』2016 International Conference on Business and Economics (ICBE 2016), 289~293쪽, 전체 5쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2016.06.30

영문 초록

This study offers new insights into the dynamic relationship between ownership structure and firm performance in the case of Chinese Stock Exchange in the period of 1999 to 2012 using a panel Vector Auto-regression (PVAR). The panel VAR approach allows to addresses the endogenous problem by allowing the endogenous interaction between the variables in the system. Our result provides the evidence that dynamically inter-temporal relationship exists between ownership and performance for a long run. Impulse response and variance decomposition illustrate that impact of a shock to variables themselves is the main source for their variability.

목차

Abstract

1. Introduction

2. EMPIRICAL METHODOLOGY

3. Empirical Result

4. Conclusions

References

키워드

Ownership Structure Performance Dynamic Endogeniety SMEs Panel VAR