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Initial Public Offering and Corporate Governance in China's Transitional Economy
Chen, Chien-Hsun - 2010
that the only industries in which listed companies in China display strong performance are public utilities, transportation …
Persistent link: https://www.econbiz.de/10012762840
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Issuance Overpricing of China's Corporate Debt Securities
Ding, Yi; Xiong, Wei; Zhang, Jinfan - 2022
We document issuance overpricing of corporate debt securities in China, which contrasts with underpricing of equity and … debt securities in Western countries. The phenomenon in China is robust across subsamples of issuances with different … process in China’s market for corporate debt securities. The average overpricing dropped from 7.44 basis points to 2.41 basis …
Persistent link: https://www.econbiz.de/10013324538
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Policy Uncertainty and Innovation : Evidence from IPO Interventions in China
Cong, Lin William - 2018
Public equity is an important source of risk capital, especially in China. The Chinese government has occasionally …
Persistent link: https://www.econbiz.de/10012918065
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Smokescreen : How Managers Behave When They Have Something to Hide
Artiga González, Tanja - 2013
We study financial reporting and corporate governance in 218 companies accused of price fixing. These firms engage in evasive financial reporting strategies, including earnings smoothing, segment reclassification, and restatements. In corporate governance, cartel firms favor outside directors...
Persistent link: https://www.econbiz.de/10013085128
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Australian Government Balance Sheet Management
Au-Yeung, Wilson - 2010
Since almost eliminating net debt, the Australian Government%u2019s attention has turned to the financing of broader balance sheet liabilities, such as public sector superannuation. Australia will be developing a significant financial asset portfolio in the %u2018Future Fund%u2019 to smooth the...
Persistent link: https://www.econbiz.de/10012761284
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Continuing Dangers of Disinformation in Corporate Accounting Reports
Kane, Edward J. - 2009
Insiders can artificially deflect the market prices of financial instruments from their full-information or inside value' by issuing deceptive accounting reports. Incentive support for disinformational activity comes through forms of compensation that allow corporate insiders to profit...
Persistent link: https://www.econbiz.de/10012767752
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Deferred Tax Positions and Incentives for Corporate Behavior Around Corporate Tax Changes
Poterba, James M. - 2007
A firm's deferred tax position can influence how it is affected by a transition from one tax regime to another. We compile disaggregated deferred tax position data for a sample of large U.S. firms between 1993 and 2004 to explore how these positions might affect firm behavior before and after a...
Persistent link: https://www.econbiz.de/10012777607
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Corporate Deleveraging
DeAngelo, Harry - 2016
Proactive deleveraging from all-time peak market leverage (ML) to near-zero ML and negative net debt is the norm among 4,476 nonfinancial firms with five or more years of post-peak data. ML is 0.543 at the historical peak and 0.026 at the later trough for the median firm in this sample, with a...
Persistent link: https://www.econbiz.de/10012979355
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Competition and Bank Opacity
Jiang, Liangliang - 2014
Did regulatory reforms that lowered barriers to competition among U.S. banks increase or decrease the quality of information that banks disclose to the public and regulators? We find that an intensification of competition reduced abnormal accruals of loan loss provisions and the frequency with...
Persistent link: https://www.econbiz.de/10013039766
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Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities
Maurer, Raimond - 2014
Life insurers use accounting and actuarial techniques to smooth reporting of firm assets and liabilities, seeking to transfer surpluses in good years to cover benefit payouts in bad years. Nevertheless, these techniques been criticized as they make it difficult to assess insurers' true financial...
Persistent link: https://www.econbiz.de/10013053850