Different from developed markets, Chinese government imposes strict control over the IPO market. Using a sample of 156 monthly returns over the period of 1996 to 2008, we find a positive relationship between the monthly issuing size and prior market return, suggesting that government decides the...

Using a sample of 156 monthly returns over the period of 1996–2008, we find a positive relation between the monthly issuing size and prior market returns, suggesting that the government decides the timing and the size of issuances based on prior market conditions. Different from previous...

This paper investigates the correlation between pre-initial public offering (pre-IPO) earnings management and underwriter reputation for issuers with different ownership structures in China. We document a significantly inverse relationship between underwriter reputation and pre-IPO earnings...

With a sample of 504 IPO issuers over a period of 2002-2008 in China, this paper studies a previously ignored issue by examining the relationship between pre-IPO earnings management and underwriter reputation for issuers with different level of marketization. We document that underwriter...

This paper investigates the determinants of initial public offering (IPO) underwriting market share in China. Using a sample of underwriters in China's IPO market during 2004-2012, we find the following results. First, underwriting quality is overall positively related to underwriting market...

Does firm ownership change affect performance? On the basis of a mean-value analysis and a fixed effects panel analysis of over 1100 Chinese companies during the period of ownership reform (1997-2003), this paper examines the performance impact of firm ownership transformation in China. The data...

Does firm ownership change affect performance? On the basis of a mean-value analysis and a fixed effects panel analysis of over 1100 Chinese companies during the period of ownership reform (1997-2003), this paper examines the performance impact of firm ownership transformation in China. The data...

Two parallel strands of non-market strategy research have emerged that are largely in isolation. One strand examines strategic corporate social responsibility (CSR) and the other examines corporate political activity (CPA), even though there is an overlap between the social and political aspects...

This paper explores the dynamic interactions between entrepreneurs and politicians in transition China through an unconventional lens of management buyouts (MBOs). Specifically we identify two contrasting outcomes of entrepreneur-politician alliances: Privatization buyouts by entrepreneurs and...