Journal
INTERNATIONAL BUSINESS REVIEW
Volume 21, Issue 5, Pages 831-846Publisher
ELSEVIER
DOI: 10.1016/j.ibusrev.2011.09.008
Keywords
Board size; Board structure; Corporate governance; China
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China's corporate governance reform offers an interesting context for investigating the determinants of board size and independence. Analysing a large panel dataset from 1999 to 2003, we find that Chinese board size is primarily driven by firm complexity; board independence is mainly driven by regulation. Some governance factors newly introduced in this study also have a significant impact. For example, board independence is negatively associated with the size of supervisory board and state ownership. The findings have important implications and provide new insights into the subject. (C) 2011 Elsevier Ltd. All rights reserved.
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