caa a22 4500 445862904 CHVBK 20180317145448.0 cr unu---uuuuu 170323e20110501xx s 000 0 eng 10.1007/s10997-009-9098-5 doi (NATIONALLICENCE)springer-10.1007/s10997-009-9098-5 State ownership and listed firm performance: a universally negative governance relationship? [Elektronische Daten] [Trien Le, Trevor Buck] Our analysis of more than 1,000 Chinese listed firms, 2003-2005, reveals a positive association between state ownership (SO) and firm performance. Arguably, if SO "causes” performance, it must be through the channel of agency cost. Therefore, our paper checks the robustness of this positive SO/performance finding by analyzing the role of agency cost as a mediator. It emerges that SO in the Chinese context may represent a strategic asset rather than an agency burden. However, it is not clear whether this is an outcome driven by efficiency or power. Springer Science+Business Media, LLC., 2009 Agency theory nationallicence China nationallicence Economic transition nationallicence Mediation nationallicence Performance nationallicence State ownership nationallicence Le Trien Loughborough University Business School, LE11 3TU, Loughborough, UK aut Buck Trevor Loughborough University Business School, LE11 3TU, Loughborough, UK aut Journal of Management & Governance Springer US; http://www.springer-ny.com 15/2(2011-05-01), 227-248 1385-3457 15:2<227 2011 15 10997 https://doi.org/10.1007/s10997-009-9098-5 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10997-009-9098-5 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Le Trien Loughborough University Business School, LE11 3TU, Loughborough, UK aut NATIONALLICENCE 700 1- Buck Trevor Loughborough University Business School, LE11 3TU, Loughborough, UK aut NATIONALLICENCE 773 0- Journal of Management & Governance Springer US; http://www.springer-ny.com 15/2(2011-05-01), 227-248 1385-3457 15:2<227 2011 15 10997 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer