In this study, we examine the wealth effects of regulatory changes intended to improve corporate governance by protecting minority shareholders from expropriation by controlling shareholders. Using data from publicly traded Chinese firms, we find that these new regulations significantly...

We examine the wealth effects of three regulatory changes designed to improve minorityshareholder protection in the Chinese stock markets. Using the value of a firm’s related-party transactions as an inverse proxy for the quality of corporate governance, we find that firms with weaker...

This paper elaborates on a method of measuring regional specialization and examines the trend of regional specialization in China, 1987 - 2007. It constructs a simple coefficient incorporating the effect of regional industrial scale, based on location quotients, and then measures the regional...