Market performance and the corporate governance structure: the implications for China

Lusk, E. J., Yang, W. and Halperin, M. (2008) Market performance and the corporate governance structure: the implications for China. International Journal of Chinese Culture and Management, 1(4), pp. 408-417. (doi:10.1504/IJCCM.2008.020007)

Lusk, E. J., Yang, W. and Halperin, M. (2008) Market performance and the corporate governance structure: the implications for China. International Journal of Chinese Culture and Management, 1(4), pp. 408-417. (doi:10.1504/IJCCM.2008.020007)

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Abstract

We empirically identify the relationship between the market performance of firms categorised using both the Kinder, Lydenberg and Domini (KLD) corporate responsibility scale as well as the Gompers, Ishii, and Metrick Corporate Governance (GIM CG) scale for a sample of US-listed firms. Compared to other styles of corporate governance, the autocratic style leads to higher market performance, but is associated with a lower level of Corporate Social Responsibility (CSR). We then discuss how China can learn from such a result while building its own governance structure. Finally, as there is no formal measure of CSR at this time in China, we conjecture about the market reaction to Chinese firms' CSR initiatives.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Yang, Dr Wei
Authors: Lusk, E. J., Yang, W., and Halperin, M.
College/School:College of Social Sciences > Adam Smith Business School > Management
Journal Name:International Journal of Chinese Culture and Management
Publisher:Inderscience
ISSN:1752-1270
ISSN (Online):1752-1289

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