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Identifier to cite or link to this item: https://hdl.handle.net/10086/30345

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Title
Corporate Ownership and Managerial Turnover in China and Eastern Europe: A Comparative Meta-Analysis
Creator
Creator Name
Iwasaki, Ichiro Iwasaki, Ichiro
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
Ma, Xinxin Ma, Xinxin
Affiliation
Affiliation Name
University of Toyama
Creator Name
Mizobata, Satoshi Mizobata, Satoshi
Affiliation
Affiliation Name
Kyoto University
Editor
Contributor Name
Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University
Affiliation
Affiliation Name
Hitotsubashi University
Key Word
corporate ownership
managerial turnover
meta-analysis
publication selection bias
China
Eastern Europe
JEL
D22
G32
G34
G38
P21
P31
Abstract
In this paper, we perform a meta-analysis of 736 estimates extracted from 31 previous studies to compare China and Eastern Europe from the viewpoint of the relationship between corporate ownership and managerial turnover. Our results strongly suggest the presence of asymmetric circumstances between the two: Namely, in Eastern Europe, private outside investors and large shareholders exert a positive influence on managerial discipline of the companies they invest in, and the government is also actively involved in the corporate governance of state-owned enterprises. In contrast, the Chinese government and the Communist Party of China have such significant control over companies as corporate owners that private shareholders only have limited influence over top management. In this sense, Chinese firms are more likely than their East European counterparts to face a greater problem in corporate governance.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2019-04
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
CEI Working Paper Series, No. 2019-1
Number of Pages
29
Sponsorship
Joint Usage and Research Center of the Institute of Economic Research, Hitotsubashi University (FY2018)
Japan Center for Economic Research
Zengin Foundation for Studies on Economics and Finance
Appears in Collections
CEI Working Paper Series
URL
https://hdl.handle.net/10086/30345