This study provides the first empirical evidence on the relationship between the chairman of the board of directors (COB) and corporate financial performance. Using a sample of Chinese A listed firms between 2008-2017, we find reliable evidence that the COB turnover improves corporate financial performance. Moreover, the existence of a majority shareholder (Majority) positively influences corporate financial performance, while firm nature (private majority shareholder or public majority shareholder)(Private) may not.
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Univ Adelaide, Adelaide Business Sch, 10 Pulteney St, Adelaide, SA 5005, AustraliaUniv Adelaide, Adelaide Business Sch, 10 Pulteney St, Adelaide, SA 5005, Australia
Lun, Pide
Cheong, Chee Seng
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Univ Adelaide, Adelaide Business Sch, 10 Pulteney St, Adelaide, SA 5005, AustraliaUniv Adelaide, Adelaide Business Sch, 10 Pulteney St, Adelaide, SA 5005, Australia
Cheong, Chee Seng
Hallak, Rob
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Univ South Australia, UniSA Business, 61 North Terrace, Adelaide, SA 5000, AustraliaUniv Adelaide, Adelaide Business Sch, 10 Pulteney St, Adelaide, SA 5005, Australia
Hallak, Rob
Mihaylov, George
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Univ Adelaide, Adelaide Business Sch, 10 Pulteney St, Adelaide, SA 5005, AustraliaUniv Adelaide, Adelaide Business Sch, 10 Pulteney St, Adelaide, SA 5005, Australia
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Sun Yat Sen Univ, Lingnan Coll, Guangzhou, Guangdong, Peoples R China
City Univ Hong Kong, Dept Econ & Finance, Kowloon, Hong Kong, Peoples R ChinaUniv Macau, Dept Econ, Taipa, Peoples R China
Chan, Kenneth S.
Dang, Vinh Q. T.
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Univ Macau, Dept Econ, Taipa, Peoples R ChinaUniv Macau, Dept Econ, Taipa, Peoples R China
Dang, Vinh Q. T.
Yan, Isabel K. M.
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City Univ Hong Kong, Dept Econ & Finance, Kowloon, Hong Kong, Peoples R ChinaUniv Macau, Dept Econ, Taipa, Peoples R China
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Shandong Normal Univ, Business Sch, 1 Daxue Rd, Jinan 250000, Shandong, Peoples R ChinaShandong Normal Univ, Business Sch, 1 Daxue Rd, Jinan 250000, Shandong, Peoples R China
Li, Jing
Li, Nan
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Shandong Normal Univ, Business Sch, 1 Daxue Rd, Jinan 250000, Shandong, Peoples R ChinaShandong Normal Univ, Business Sch, 1 Daxue Rd, Jinan 250000, Shandong, Peoples R China
Li, Nan
Xia, Tongshui
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Shandong Normal Univ, Business Sch, 1 Daxue Rd, Jinan 250000, Shandong, Peoples R ChinaShandong Normal Univ, Business Sch, 1 Daxue Rd, Jinan 250000, Shandong, Peoples R China
Xia, Tongshui
Guo, Jinjin
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Shandong Normal Univ, Business Sch, 1 Daxue Rd, Jinan 250000, Shandong, Peoples R ChinaShandong Normal Univ, Business Sch, 1 Daxue Rd, Jinan 250000, Shandong, Peoples R China
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Capital Univ Econ & Business, Sch Econ, Beijing 100070, Peoples R ChinaCapital Univ Econ & Business, Sch Econ, Beijing 100070, Peoples R China
Zhang, Dongyang
Du, Wencui
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Capital Univ Econ & Business, Sch Econ, Beijing 100070, Peoples R ChinaCapital Univ Econ & Business, Sch Econ, Beijing 100070, Peoples R China
Du, Wencui
Zhuge, Liqun
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Boston Univ, Dept Econ, Boston, MA 02215 USACapital Univ Econ & Business, Sch Econ, Beijing 100070, Peoples R China
Zhuge, Liqun
Tong, Zheming
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Zhejiang Univ, Sch Mech Engn, Hangzhou 310027, Zhejiang, Peoples R China
MIT, Dept Mech Engn, Cambridge, MA 02139 USA
Harvard Univ, Ctr Green Bldg & Cities, Cambridge, MA 02138 USACapital Univ Econ & Business, Sch Econ, Beijing 100070, Peoples R China
Tong, Zheming
Freeman, Richard B.
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Harvard Univ, Dept Econ, Cambridge, MA 02138 USA
NBER, Cambridge, MA 02138 USA
Harvard Univ, Ctr Green Bldg & Cities, Cambridge, MA 02138 USACapital Univ Econ & Business, Sch Econ, Beijing 100070, Peoples R China