Li, Wei, Wang, Yaping, Wu, Liansheng and Xiao, Jason Zezhong ![]() |
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Abstract
Management ownership has ethical consequences because it has an interest alignment effect or an entrenchment effect. In this paper, we investigate the ethical consequences of management ownership in China using accounting conservatism as the direct measure of entrenchment and alignment between shareholders and managers. We argue and find that the ethical effect of management ownership differs significantly in firms with different ultimate controlling shareholders. Specifically, management ownership in non-state-owned enterprises (NSOEs) has an alignment effect, while management ownership has less of an alignment effect in state-owned enterprises than in NSOEs. These results show that the ethical consequences of management ownership are moderated by the nature of ultimate controlling ownership.
Item Type: | Article |
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Date Type: | Published Online |
Status: | Published |
Schools: | Business (Including Economics) |
Subjects: | B Philosophy. Psychology. Religion > BJ Ethics H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management |
Uncontrolled Keywords: | Accounting conservatism, China, Corporate ownership, Ethical dimension, Management ownership |
Publisher: | Springer Netherlands |
ISSN: | 0167-4544 |
Date of First Compliant Deposit: | 20 April 2017 |
Date of Acceptance: | 7 June 2015 |
Last Modified: | 06 Nov 2023 20:31 |
URI: | https://orca.cardiff.ac.uk/id/eprint/74239 |
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