Drawing on upper echelons theory, the resource-based view of the firm (RBV) and managerial networking theory, we hypothesize that management demography of chairpersons is important and reflects valuable resources of the firm. Our empirical examination of Chinese firms supports this hypothesis by...

In this paper, we introduce two measures of allotment ratios for small investors to examine the strategic share allocation strategy of IPO underwriters in Hong Kong. Employing a sample of 267 IPOs from 1993 to 1997 and statistical analyses including two-sample comparisons and regression models,...

This paper investigates the short-term return performance and long-term operating performance of 36 partial mergers in Hong Kong during the period 1984-1996. We first conduct an event-study to evaluate the short-term market performance of the target, the bidder and a simulated combined portfolio...