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<p>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.</p>

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Insider Stock Ownership and Earnings Persistence: Evidence from China

  • 期刊论文

  • 发表日期：

    2025年3月1日

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  • Lin Minsi,
  • Fazlida Mohd Razali,
  • Razana Juhaida Johari,
  • Nur Syuhada Jasni

摘要

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.