The effect of CEO power on corporate performance: Evidence from China

摘要

This study linked CEO power to firm performance variability and examined the moderating role of state ownership in this relationship. Drawing on background theory on CEO power, we developed and tested hypotheses using the data of 465 samples from the listed Chinese enterprises. The positive relationship between CEO power and firm performance variability was found as well as the moderating effect of state ownership: CEO power has a greater positive impact on performance variability in state-owned enterprises than in non-state enterprises.