March 2022
Intermediate to advanced
294 pages
16h 47m
English
Nanjing University of Science and Technology, Nanjing, China
ABSTRACT: Corporate governance mechanisms, such as equity incentives, have led many managers to own shares in publicly traded companies. Based on the data of A-share listed companies from 2008 to 2019, we find that there is a negative relationship between managerial ownership ratio and Tobin's Q, an indicator of corporate value. Such a relationship is more obvious in listed companies with poor liquidity and small size.
For many listed enterprises in China, the management of the enterprise is often the founder of the enterprise, and the major shareholders ...