political connections in China's state-controlled going public process, a subject that has rarely been investigated in existing … authorities. The findings of this article may provide answer to the question why China has been so reluctant to adopt disclosure …-based regulatory regime as well as insights into the puzzle of the consistent poor performance of China's stock markets …

This article investigates tunneling by controlling shareholders in China's public companies, and finds that, first …. This article argues that in China, where there is not sufficient and effective legal protection for investors, controlling …