دانلود رایگان مقاله کنترل مستقیم کمیته حزب کمونیست و ارزش بازار دارایی های شرکت های نقدی

عنوان فارسی
کنترل مستقیم کمیته حزب کمونیست و ارزش بازار دارایی های شرکت های نقدی
عنوان انگلیسی
Communist party committee direct control and the market value of corporate cash holdings
صفحات مقاله فارسی
0
صفحات مقاله انگلیسی
11
سال انتشار
2017
نشریه
الزویر - Elsevier
فرمت مقاله انگلیسی
PDF
کد محصول
EP5026
رشته های مرتبط با این مقاله
مدیریت و اقتصاد
گرایش های مرتبط با این مقاله
بازاریابی
مجله
اسناد تحقیقات مالی - Finance Research Letters
دانشگاه
School of Public Finance and Taxation
کلمات کلیدی
کنترل حزب کمونیست، نقدی
چکیده

Abstract


We study the impact of having a communist party committee (CPC) member directly involved in the management of a firm on the market value of cash. Our findings suggest that the CPC member can enhance the market value of cash only when he or she is a director of the board. When the CPC members are supervisors of a supervisory board or senior management, they have no effect.

نتیجه گیری

Results and discussion


3.1. Summary statistics and base results We report the summary statistics in Table 2. Among the samples, the mean of PARTY is 0.087, suggesting there are approximately 8.7% of SOEs having members of their CPCs as directors, supervisors, or senior managers. The means of PARTY_DIR, PARTY_SUP, and PARTY_MAN are 0.066, 0.022, and 0.032, respectively, indicating 6.6%, 2.2%, and 3.2% of the SOEs have at least one member of their CPCs as a director, a supervisor, or a senior manager. Overall, the CPC members of SOEs show some involvement in running their SOEs.


بدون دیدگاه