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Title: Legal person ownership, diversification strategy and firm profitability in China
Authors: Delios, A. 
Wu, Z.J.
Keywords: Agency theory
Diversification strategy
Legal person shareholding
Issue Date: 2005
Source: Delios, A.,Wu, Z.J. (2005). Legal person ownership, diversification strategy and firm profitability in China. Journal of Management and Governance 9 (2) : 151-169. ScholarBank@NUS Repository.
Abstract: Legal person ownership is the second largest ownership identity in China's public listed companies, yet it has received limited attention compared to the already extensive research on China's state ownership. We investigate the relationships between the concentration of legal person shareholding, product diversification and firm performance for China's listed companies. We find that relying on legal person shareholder as a lever for more profit-oriented governance cannot be an unqualified linear prescription, but it has this effect only if legal person shareholders have a high level of ownership concentration and are not in a minority ownership position. © Springer 2005.
Source Title: Journal of Management and Governance
ISSN: 13853457
DOI: 10.1007/s10997-005-4034-9
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