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Ownership Concentration, Identity and Firm Performance: Evidence from China’s Listed Firms

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  • Hongmei Wang
  • Jun Wu
  • Yuhong Yang
  • Ruihai Li
  • Yuping Liu

Abstract

Ownership concentration and ownership identity are important corporate governance mechanisms. This paper seeks to understand how ownership concentration and identity affect firm performance in an important emerging economy-China. It hypothesizes that differences in firm performance are a result of various ownership structures and ownership identity. Using data of Chinese listed companies from 2007–2017, it tests those hypotheses and finds that ownership concentration has a positive effect in firm performance and corporate ownership leads to higher firm performance than financial ownership. The study shows that firms in China benefit more from foreign ownership than firms with only domestic ownership.

Suggested Citation

  • Hongmei Wang & Jun Wu & Yuhong Yang & Ruihai Li & Yuping Liu, 2019. "Ownership Concentration, Identity and Firm Performance: Evidence from China’s Listed Firms," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(15), pages 3653-3666, December.
    • Handle: RePEc:mes:emfitr:v:55:y:2019:i:15:p:3653-3666
    DOI: 10.1080/1540496X.2019.1672042
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    Cited by:

    1. Wang, Hua & Wang, Wei & Alhaleh, Shadi Emad Areef, 2021. "Mixed ownership and financial investment: Evidence from Chinese state-owned enterprises," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 159-171.
    2. Imad Jabbouri & Rachid Jabbouri, 2021. "Ownership identity and firm performance: Pre‐ and post‐crisis evidence from an African emerging market," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5963-5976, October.
    3. Zhang, Yefeng & Zhang, Yuyu & Yao, Troy, 2022. "Fraudulent financial reporting in China: Evidence from corporate renaming," Journal of Contemporary Accounting and Economics, Elsevier, vol. 18(1).

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