Title page for ETD etd-05272010-113932


Type of Document Dissertation
Author Wang, Zhengjun
Author's Email Address zwang2@lsu.edu
URN etd-05272010-113932
Title East Meets West? Determinants of Chinese Firms' Response to Pressures towards International Corporate Governance Standards
Degree Doctor of Philosophy (Ph.D.)
Department Management (Business Administration)
Advisory Committee
Advisor Name Title
McGuire, Jean B. Committee Chair
Greckhammer, Thomas H. Committee Member
Justis, Robert T. Committee Member
Richardson, Hettie A. Committee Member
Richardson, James A. Dean's Representative
Keywords
  • China
  • Corporate Governance
  • Institutional Theory
Date of Defense 2010-04-15
Availability unrestricted
Abstract
The diffusion of corporate governance standards globally has received special attention from researchers in an increasingly globalized economy. This topic is particularly significant in emerging economies as they encounter both economic pressures to adopt international governance standards and pressures to conform to local institutional resistance to change in governance. Drawing on multi-theoretical perspectives including agency theory, resource dependence theory and institutional theory, this study examines the role of CEO and board characteristics, ownership structure, prior firm performance, and firmís selection of accounting standards and auditing firms in determining Chinese publicly listed firmsí responses to pressures to adopt international governance standards.

This study finds that (1) Chinese publicly listed firms with better prior performance measured by ROA are more likely to be early adopters of international governance model; (2) in general, the antecedents of CEO and board characteristics are not significant predictors of firmsí adoption of international governance standards; (3) direct (ownership) and indirect links to Chinese government play significant roles in shaping firmsí governance standards and practice; and (4) firmsí ownership structure particularly proportion of tradable shares and presence of foreign ownership are significant predictors of firmsí corporate governance orientation, while ownership concentration is not. This research enriches the bodies of international corporate governance literature and contributes to institutional change literature by empirically testing how firms facing similar political pressure, functional pressure, and social pressure (Oliver, 1992) produce heterogeneous strategic responses in an emerging context. It also contributes practically to the development of government business policy and effective management of firm strategies in China.

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