Politically-connected CEOs, Corporate Governance and Post-IPO Performance of China's Partially Privatized Firms

2004.

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Abstract:

Abstract Almost 27% of the CEOs in a sample of 790 newly partially privatized firms in China are former or current government,bureaucrats. Firms with politically connected,CEOs underperform,those without politically connected,CEOs by almost,18% based,on three-year post-IPO stock returns and have poorer three-year post-IPO earnings growth,...More

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