Empirical Study of Dynamic Corporate Governance Based on Chinese-listed SMEs with a PVAR Approach

被引：0
|
作者：
Shao, Lin [1 ]
Zhang, Li [2 ]
Yu, Xiaohong [2 ]
机构：
[1] QiLu Univ Technol, Sch Finance, Jinan, Peoples R China
[2] Shandong Yingcai Univ, Sch Econ & Managment, Jinan, Peoples R China
来源：
2016 INTERNATIONAL CONFERENCE ON BUSINESS AND ECONOMICS (ICBE2016) | 2016年
关键词：
Ownership Structure; Performance; Dynamic Endogeniety; SMEs; Panel VAR; OWNERSHIP STRUCTURE; INVESTMENT;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study offers new insights into the dynamic relationship between ownership structure and firm performance in the case of Chinese Stock Exchange in the period of 1999 to 2012 using a panel Vector Auto-regression (PVAR). The panel VAR approach allows to addresses the endogenous problem by allowing the endogenous interaction between the variables in the system. Our result provides the evidence that dynamically inter-temporal relationship exists between ownership and performance for a long run. Impulse response and variance decomposition illustrate that impact of a shock to variables themselves is the main source for their variability.
引用
收藏
页码：289 / 293
页数：5
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