Overseas listing, voluntary corporate governance and performance |
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| Authors: | Lianfu Ma Deqiu Chen Li Gao |
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| Institution: | (1) Department of Management, King’s College London, University of London, London, UK;(2) Faculty of Management, Sir John Cass Business School, City University London, London, UK;(3) Business School, Loughborough University, Loughborough, UK;(4) Centre for Management Buy-out Research, Business School, Nottingham University, Nottingham, UK |
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| Abstract: | This paper analyzes the evolution of Sinopec’s corporate governance system and performance in the domestic capital market
after its overseas listing. Results show that Sinopec’s governance system successfully evolves from a mandatory type to a
voluntary type as a result of conformation to legal regulatory systems in the overseas market as exogenous forces and company
voluntary decision-makings as endogenous forces. Sinopec takes the initiative to carry out corporate governance innovation,
which has significantly improved its performance in the domestic capital market. |
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