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【论文】杨丹,Cheng Linyin,王国俊,王跃堂:“Dividends and management promotion—Evidence from internal labor market in an emerging economy”
发布时间:2021-09-01      浏览量:

杨丹,Cheng Linyin,王国俊,王跃堂,“Dividends and management promotion—Evidence from internal labor market in an emerging economy”,INTERNATIONAL REVIEW OF FINANCE,Volume21, Issue3,https://doi.org/10.1111/irfi.12312(SSCI)


Abstract

Top management in state-owned enterprises (SOEs) works in a typical internal labor market and seeks political promotion after the tenure. By using a sample of Chinese listed SOEs for 2003–2013, this paper documents that top management in SOEs has motivations to trade-off its own promotion through increasing dividend payout, and the evidence becomes more significant when SOEs report better financial performance than their industry averages.



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