Ownership structure and agency costs: An empirical study in China

被引：0
|
作者：
Han, LL [1 ]
Li, S [1 ]
机构：
[1] Shenyang Univ Technol, Sch Management, Liaoning, Peoples R China
来源：
MANAGEMENT SCIENCES AND GLOBAL STRATEGIES IN THE 21ST CENTURY, VOLS 1 AND 2 | 2004年
关键词：
ownership structure; agency costs; management expenses ratio; total assets turnover;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the relationship between ownership structure and agency costs based on a sample of 1080 listed firms from Shanghai Securities Exchange and Shenzhen. Securities Exchange in China. We use the concentration degree of ownership (CD5) and the restriction degree of ownership (RD5) as the reflection of ownership structure, and measure agency costs with the management expenses ratio (MER) and the total assets turnover (TAT). The paper finds that agency costs is negatively related to the concentration degree of ownership, and is positively related the restriction degree of ownership.
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页码：1094 / 1100
页数：7
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