期刊名称：Asian Journal of Economics, Business and Accounting
印刷版ISSN：2456-639X
出版年度：2018
卷号：7
期号：3
页码：1-18
DOI：10.9734/AJEBA/2018/42219
语种：English
出版社：Sciencedomain International
摘要：The paper investigates the effect of the university connections of independent directors on firm performance by choosing the panel data consisting of 2994 firm-year observations in Chinese listed manufacturing companies during 2008-2013 as research sample. Empirical analysis by adopting the multiple regression analysis based on OLS and the independent samples test with SPSS19.0 makes the following new finding: In the manufacturing companies in China, there is a positive relationship between the university connections of independent directors and firm performance measured by ROE, ROA and EPS. Further investigation shows that the independent directors from the universities would produce a higher productivity in the traditional labor-intensive firms rather in the technology-intensive firms, and what is more, if the independent directors from the universities attend more board meetings, their positive role in affecting firm performance would be enhanced.
