Innovation, Shareholder, and Performance
Date Issued
2014
Date
2014
Author(s)
Tai, William
Abstract
The aim of this research is to explore the profit efficiency and association between innovation on entrepreneurship level and firm performance under China’s transition economy settings, i.e. from a conventional socialism’s planned economy to a Chinese-characterized neo-socialism’s market economy, with shareholder governance factors. The resource-competence-based entrepreneurship theory and the agency- transaction-cost theorized corporate governance are, mostly, evidenced as positively related to firm performance while both are considered the strength in dragging each other with a counter-balancing effect for wealth maximization of shareholders. Entrepreneurship burst and developed since China’s Reform and Open Policy released in the very end of the 1970s and its private-owned-business legalization in 1988. In a transition economy, like China, filled with crises and opportunities, environment changes much more rapidly and challenges barrage more intensely than usual. The friction between entrepreneurship and corporate governance can be anticipated.
This research is the first one employing the profit efficiency methodology to look into the binding interaction amongst entrepreneurship, corporate governance and firm performance which have never been pooled together for scrutiny yet. The most salient finding from this study which simultaneously values corporate entrepreneurship and corporate governance are evidenced. Dragging and pulling each other with a check-and-balance effect is revealed in the analysis section. The phenomenon that corporate entrepreneurship and corporate governance are dragging or pulling each other with a check-and-balance effect is explicitly observed in this research as brought up in the problem statement section. The check-and-balance mechanism through the dragging or pulling effect originating from the confronting nature on both ends does take effect from the sample data adopted in this research.
Subjects
公司績效
企業創新能力
股權結構
Type
thesis
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