THE ANALYSIS OF CORPORATE PERFORMANCE AND GOVERNANCE ON INDUSTRY COMPETITION RATINGS IN CHINA

IF 1 Q3 ECONOMICS

Global Economy Journal Pub Date : 2022-07-27 DOI:10.1142/s2194565922500063

Jo-Hui Chen, W. Yeh, Sabbor Hussain

引用次数: 0

Abstract

This paper studies the influence of corporate performance and governance on the rating of industry competition degrees from 2012 to 2016. This study uses the ordered logit model and focuses on the non-manufacturing and manufacturing industries from the acquisition perspective and evaluates the rating change of industry competition. The results found that Tobin Q, Earnings Per Share, Management Layer Total Annual Salary, and Number of Board Directors impact the rating changes for industry competition. The manufacturing enterprises can improve the value and income by increasing investment when the market is more concentrated. It can expand the size of the board of directors and reduce compensation to improve the governance ability of the management. The corporate performance and governance of manufacturing industries are more competitive than non-manufacturing industries in the monopolized market. The government offers an efficient manufacturing ecosystem, emphasizes governance policies, and reduces M&A taxes helping localization and industry competition.

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中国公司绩效与治理对行业竞争评级的影响分析

本文研究了2012 - 2016年公司绩效和治理对行业竞争程度评级的影响。本研究采用有序logit模型，从并购角度关注非制造业和制造业，评估行业竞争等级变化。结果发现，托宾Q、每股收益、管理层年薪总额和董事会人数对行业竞争的评级变化有影响。在市场集中度较高的情况下，制造企业可以通过增加投资来提高价值和收益。它可以扩大董事会规模，减少薪酬，提高管理层的治理能力。在垄断市场中，制造业的公司绩效和治理比非制造业更具竞争力。政府提供高效的制造生态系统，强调治理政策，并减少有助于本地化和产业竞争的并购税。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Global Economy Journal ECONOMICS-

CiteScore

1.60

自引率

14.30%

发文量

期刊介绍： The GEJ seeks to publish original and innovative research, as well as novel analysis, relating to the global economy. While its main emphasis is economic, the GEJ is a multi-disciplinary journal. The GEJ''s contents mirror the diverse interests and approaches of scholars involved with the international dimensions of business, economics, finance, history, law, marketing, management, political science, and related areas. The GEJ also welcomes scholarly contributions from officials with government agencies, international agencies, and non-governmental organizations. One over-arching theme that unites IT&FA members and gives focus to this journal is the complex globalization process, involving flows of goods and services, money, people, and information.