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CEO characteristics and firm performance: evidence from private listed firms in China

Md Jahidur Rahman (Department of Accounting, Wenzhou-Kean University, Wenzhou, China)
Xianxian Chen (Department of Accounting, Wenzhou-Kean University, Wenzhou, China)

Corporate Governance

ISSN: 1472-0701

Article publication date: 23 August 2022

Issue publication date: 10 April 2023

1084

Abstract

Purpose

This study aims to examine the effect of the chief executive officer (CEO) characteristics on corporate performance in private listed firms in China.

Design/methodology/approach

Fixed effects regressions are used to explore the connection of CEO age, tenure, political connection, duality and gender with firm performance. The final panel data sample consists of 16,010 firm-year observations from 2010 to 2020, including A-share private firms listed in the Shenzhen and Shanghai Stock Exchanges.

Findings

Five hypotheses are proposed, and results show that certain CEO characteristics, such as age, tenure and political connection, are positively related to corporate performance. Contrary to expectations, CEO duality and gender do not affect firm performance.

Originality/value

Findings present implications for future research on corporate governance and political connections of private listed firms.

Keywords

Acknowledgements

Data availability statement: The data collected in the paper are available from CSMAR.

Citation

Rahman, M.J. and Chen, X. (2023), "CEO characteristics and firm performance: evidence from private listed firms in China", Corporate Governance, Vol. 23 No. 3, pp. 458-477. https://doi.org/10.1108/CG-01-2022-0004

Publisher

:

Emerald Publishing Limited

Copyright © 2022, Emerald Publishing Limited

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