Ownership, Board, Agency Costs and Financial Distress: Evidence from Chinese Listed Companies

被引：0
|
作者：
Wang Zong-jun [1 ]
Li Hong-xia [1 ]
Wang Wei [1 ]
机构：
[1] Huazhong Univ Sci & Technol, Sch Management, Wuhan 430074, Peoples R China
来源：
2007 INTERNATIONAL CONFERENCE ON WIRELESS COMMUNICATIONS, NETWORKING AND MOBILE COMPUTING, VOLS 1-15 | 2007年
关键词：
Financial distress; Corporate governance; Ownership; Board composition; Managerial agency costs;
D O I：
暂无
中图分类号：
TP39 [计算机的应用];
学科分类号：
081203 ; 0835 ;
摘要：
To empirically investigate the relationship between the corporate governance characteristics and the risk of financial distress for Chinese listed companies. Binary logistic analysis is used to test the effect of ownership structure characteristics oil the probability of financial distress with a total sample of 384 listed companies. Logistic regression results show that: ownership concentration, state ownership, ultimate controller, independent directors and auditors' opinion turn out to be negatively associated with the probability of financial distress, while administrative expense ratio is positively related with the likelihood of financial distress. Managerial ownership, board size and CEO duality do not appear to be significant determinants.
引用
收藏
页码：3911 / 3914
页数：4
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