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Cited by 51Corporate Finance and GovernanceState Capitalism and Financial GovernanceFamily Business Performance and Succession

Corporate ownership and managerial turnover in China and Eastern Europe: A comparative meta-analysis

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Iwasaki, Ichiro, Ma, Xinxin, Mizobata, Satoshi·2020·Journal of Economics and Business
DOI 10.1016/j.jeconbus.2020.105928
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Abstract

In this paper, we perform a meta-analysis of 736 estimates extracted from 31 previous studies to compare China and Eastern Europe from the viewpoint of the relationship between corporate ownership and managerial turnover. Our results strongly suggest the presence of asymmetric circumstances between the two. Namely, in Eastern Europe, private outside investors and large shareholders exert a positive influence on the managerial discipline of the companies they invest in, and the government is also actively involved in the corporate governance of state-owned enterprises. In contrast, the Chinese government and the Communist Party of China have such significant control over companies as corporate owners that private shareholders only have limited influence over top management. In this sense, Chinese firms are more likely than their East European counterparts to face greater problems in corporate governance.

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  • There is no clear consensus among meta-analysts about the best model for estimating the meta-regression equation.

    “As pointed out in Iwasaki et al. (2020) and Ono and Iwasaki (2022), there is no clear consensus among meta-analysts about the best model for estimating Eq. (5).”

    From Economic development and the finance–growth nexus: a meta-analytic approach (2024) · cites this paper as Iwasaki et al. (2020)

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Authors
Iwasaki, I., Ma, X., & Mizobata, S.
Affiliations
  • Hitotsubashi University (JP)
  • University of Toyama (JP)
  • Kyoto University (JP)
Corresponding author
Iwasaki, Ichiro
ORCID
Venue
Journal of Economics and Business
Publisher
Elsevier BV
Published
2020-09
Volume
111
Pages
105928
ISSN
0148-6195 (ISSN-L)
DOI
10.1016/j.jeconbus.2020.105928
OpenAlex
W2949665273
Cited by
51
References
131
Citations by year
2026: 1 · 2025: 5 · 2024: 11 · 2023: 13 · 2022: 10 · 2021: 8 · 2020: 3
FWCI
15.81
Type
journal article
Language
en
Open access
Licence
Locations
Journal of Economics and Business (publishedVersion, cc-by)
Funders
  • Japan Center for Economic Research
  • Japan Society for the Promotion of Science
  • Zengin Foundation For Studies On Economics And Finance
Topics
  • Social Sciences › Business, Management and Accounting › Accounting › Corporate Finance and Governance
  • Social Sciences › Business, Management and Accounting › Strategy and Management › State Capitalism and Financial Governance
  • Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Family Business Performance and Succession
Keywords
corporate ownership, management turnover, corporate governance, state-owned enterprises, private shareholders, outside investors, blockholders, state ownership, Chinese Communist Party, China, Eastern Europe, cross-national comparison

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