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Solving agency problems in Chinese family firms - A law and finance perspective

机译:解决中国家族企业的代理问题-法律和金融角度

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摘要

To overcome the potential for omitted-variable and aggregation biases in country-based comparisons commonly adopted in the law and finance literature, this study designs a within-country analysis of legal measures toward resolving agency problems in Chinese family firms. Our findings show that agency costs in family firms can be significantly minimized by the evolution of formal legal rules, even with weak enforcement of investor protection. These results have important implications for economic reform and corporate development in emerging economies, because they show that the development of rules and regulations does matter in countries with weak enforcement.
机译:为了克服法律和金融文献中普遍采用的基于国家的比较中可能存在的遗漏变量偏差和汇总偏差,本研究设计了针对解决中国家族企业代理问题的法律措施的国家内部分析。我们的发现表明,即使对投资者保护的执行力度较弱,通过正式法律规则的演变,家族企业的代理成本也可以大大降低。这些结果对新兴经济体的经济改革和公司发展具有重要意义,因为它们表明,法规和规章的制定在执法不力的国家确实很重要。

著录项

  • 来源
    《Asian Business & Management》 |2016年第1期|57-82|共26页
  • 作者

    Zhou Jing; Tam On Kit; Lan Wei;

  • 作者单位

    Southwestern Univ Finance & Econ, Sch Int Business, 555 Liutai Ave, Chengdu 611130, Sichuan, Peoples R China;

    RMIT Univ, Coll Business, Swanston Acad Bldg,Level 7,445 Swanston St, Melbourne, Vic 3000, Australia;

    Southwestern Univ Finance & Econ, Sch Stat, Zhizhi Zone 236,555 Liutai Ave, Chengdu 611130, Sichuan, Peoples R China|Southwestern Univ Finance & Econ, Ctr Stat Res, Zhizhi Zone 236,555 Liutai Ave, Chengdu 611130, Sichuan, Peoples R China;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    agency problems; family firms; law and finance; China;

    机译:代理问题;家族企业;法律与金融;中国;

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