A typical privately-run enterprise has a mixed ownership structure with. four predominant groups of shareholders the state, legal persons, domestic individuals, and foreign investors. This paper gives an empirical ana...A typical privately-run enterprise has a mixed ownership structure with. four predominant groups of shareholders the state, legal persons, domestic individuals, and foreign investors. This paper gives an empirical analysis on the relationship among ownership concentration, insider shareholding and firm performance in nearly one thousand Chinese privately-run enterprises. The results show: the ownership concentration ratio and the percentage of insider shareholding are 'inverse U--shaped' related to finn performance, respectively, the debt-to-asset ratio is negative related to finn performance, the firm size is positive related to firm performance.展开更多
Efficient cooperation,which has become common under rising economic globalization,is leading to new opportunities and challenges for enterprises choosing long-term competition strategies.Sharing resources with competi...Efficient cooperation,which has become common under rising economic globalization,is leading to new opportunities and challenges for enterprises choosing long-term competition strategies.Sharing resources with competitors is believed to weaken a firm's competitive edge.However,a potentially competitive market may change a firm's incentive to share resources strategically with rivals.Consequently,this study investigates two possible cooperation models between leading enterprises and small and medium-sized enterprises(SMEs)to examine the impact of sharing resources on a firm's strategy.This analysis shows that cooperation strategies benefit both the leading firm and the SME under certain conditions.Furthermore,this study demonstrates that the wholesale cooperation strategy is always more detrimental to the environment than the license cooperation strategy.Interestingly,although cooperation can help SMEs develop sustainably in most cases,industries with high resource costs may experience a situation in which SMEs benefit from competition,thus resisting cooperation and harming the leading enterprise.This study highlights the role of a potentially competitive market and provides managerial insights for stakeholders.展开更多
文摘A typical privately-run enterprise has a mixed ownership structure with. four predominant groups of shareholders the state, legal persons, domestic individuals, and foreign investors. This paper gives an empirical analysis on the relationship among ownership concentration, insider shareholding and firm performance in nearly one thousand Chinese privately-run enterprises. The results show: the ownership concentration ratio and the percentage of insider shareholding are 'inverse U--shaped' related to finn performance, respectively, the debt-to-asset ratio is negative related to finn performance, the firm size is positive related to firm performance.
基金the National Natural Science Foundation of China(71872028)the Digital Culture and Media Research Fund of Philosophy and Social Sciences Research Base in Sichuan Province(19CDCMO3).
文摘Efficient cooperation,which has become common under rising economic globalization,is leading to new opportunities and challenges for enterprises choosing long-term competition strategies.Sharing resources with competitors is believed to weaken a firm's competitive edge.However,a potentially competitive market may change a firm's incentive to share resources strategically with rivals.Consequently,this study investigates two possible cooperation models between leading enterprises and small and medium-sized enterprises(SMEs)to examine the impact of sharing resources on a firm's strategy.This analysis shows that cooperation strategies benefit both the leading firm and the SME under certain conditions.Furthermore,this study demonstrates that the wholesale cooperation strategy is always more detrimental to the environment than the license cooperation strategy.Interestingly,although cooperation can help SMEs develop sustainably in most cases,industries with high resource costs may experience a situation in which SMEs benefit from competition,thus resisting cooperation and harming the leading enterprise.This study highlights the role of a potentially competitive market and provides managerial insights for stakeholders.