CEO’s Background Characteristics, Financing Preference and Firm Performance – Empirical Evidence From China’s A-Share Listed Companies

Conference paper
Part of the Springer Proceedings in Business and Economics book series (SPBE)

Abstract

We carry out regression analysis using data of 300 companies listed in China’s A-share market in 2015, and introduce the shareholdings of top ten shareholders and corporate current ratio in regression models as control variables. We reach the follow conclusions: in China, (1) gender and education background of a CEO and equity incentives have no significant impact on firm performance; (2) among China’s current A-share listed companies, excessive self-confidence does exist in CEOs, and has a negative impact on firm performance; (3) Corporate financing preference plays a partial mediator role in the relationship between CEO’s self-confidence and firm performance.

Keywords

CEO’s background characteristics Financing preference Firm performance 

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Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Business School, Central University of Finance and Economics (CUFE)BeijingChina
  2. 2.Academy of Innovation Management, CUFEBeijingChina

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