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Ownership structure and corporate performance: empirical evidence of China's listed property companies

Ke, Q; Isaac, D; (2007) Ownership structure and corporate performance: empirical evidence of China's listed property companies. Journal of Financial Management of Property and Construction , 12 (1) pp. 3-10. 10.1108/13664380780001089. Green open access

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Abstract

This paper investigates the relationship of ownership structure and corporate performance of China’s listed property companies. Data from all the listed property companies on China’s stock market from 2000 to 2002 to study ownership concentration, type of controlling shares and their relation to corporate performance. The methodology applied is the conventional ordinary least square (OLS) model which is widely used in empirical studies on corporate governance. We find that ownership concentration has a positive association on corporate performance and the state shareholding is positively related to corporate performance; this is inconsistent with other empirical studies on the ownership structure and corporate performance of China’s listed companies. This finding reflects the property industry’s characteristics.

Type: Article
Title: Ownership structure and corporate performance: empirical evidence of China's listed property companies
Open access status: An open access version is available from UCL Discovery
DOI: 10.1108/13664380780001089
Publisher version: http://dx.doi.org/10.1108/13664380780001089
Language: English
Additional information: Copyright © Emerald Group Publishing Limited 2007.
Keywords: Ownership structure, state shares, legal person shares, corporate performance
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning
URI: https://discovery.ucl.ac.uk/id/eprint/1363475
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