Political Control and Performance in China's Listed Firms

摘要: Chang, Eric C., and Wong, Sonia M.L.—Political control performance in China’s listed firms The implications of the involvement grassroots local party committees Chinese Communist Party (CCP) decision making are investigated. First, we show that decision-making power relative to largest shareholders is associated positively with firm performance. This result suggests restrains from expropriation but existing level insufficient shareholders. Second, managers negatively political co sts over more detrimental than agency problems excessive. On balance, our results indicate excessive reducing would improve firms. Journal Comparative Economics32 (4) (2004) 617–636.