Insider Stock Ownership and Earnings Persistence: Evidence from China

• 发表在: PUBLIC ORGANIZATION REVIEW
• Main Authors: Minsi, Lin; Razali, Fazlida Mohd; Johari, Razana Juhaida; Jasni, Nur Syuhada
• 格式: Article; Early Access
• 语言: English
• 出版: SPRINGERNATURE 2025
• 主题: Public Administration
• 在线阅读: https://www-webofscience-com.uitm.idm.oclc.org/wos/woscc/full-record/WOS:001434514400001

This study examines the impact of insider stock ownership on earnings persistence within the framework of agency theory following the 2018 implementation of a revised Code of Corporate Governance of Listed Companies in China. Analyzing data from A-share firms on the Shanghai and Shenzhen exchanges from 2018 to 2021, the results show a significant positive impact of ownership by boards of directors, executives, and actual controllers on earnings persistence. Supervisory board ownership did not have a significant impact on earnings persistence. These findings bring attention to issues concerning the efficacy of internal governance in Chinese listed firms.