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An investigation of the choice of governance modes in Chinese family firms

Jiancai Pi · Faculty of Economics University of Rijeka · 2015

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Author / responsible party
Jiancai Pi
Publisher
Faculty of Economics University of Rijeka
Year
2015
ISSN
1331-8004
ISSN
1331-8004
Language
English

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This paper aims to investigate the choice of governance modes in Chinese family firms. For that purpose, we build a principal-agent model to conduct our analyses. There are two modes of governance that the owner of the family firm can choose from, either the relational governance or the professional governance. The choice of governance modes is embodied in managerial compensation under different contractual arrangements. Our theoretical analyses show that under some conditions it is optimal for the owner to choose the relational governance, while under other conditions it is optimal for the owner to adopt the professional governance. That is to say, the choice of governance modes is condition-dependent

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APA 7

Pi, J. (2015). An investigation of the choice of governance modes in Chinese family firms. https://doi.org/10.18045/zbefri.2015.2.257

MLA

Pi, Jiancai. "An investigation of the choice of governance modes in Chinese family firms." 2015. https://doi.org/10.18045/zbefri.2015.2.257.

Chicago

Pi, Jiancai. 2015. "An investigation of the choice of governance modes in Chinese family firms.". https://doi.org/10.18045/zbefri.2015.2.257.

Harvard

Pi, J. 2015, An investigation of the choice of governance modes in Chinese family firms, Faculty of Economics University of Rijeka, available at: https://doi.org/10.18045/zbefri.2015.2.257 [Accessed 8 Aug. 2026].

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Title
An investigation of the choice of governance modes in Chinese family firms
Author / contributors
Jiancai Pi
Publisher
Faculty of Economics University of Rijeka
Publication year
2015
ISSN
1331-8004
ISSN
1331-8004
Language
English

Subjects

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professional governance; Chinese family firm; relational governance; moral hazard
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