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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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What Do Private Equity Firms Say They Do?
Gompers, Paul A. - 2015
We survey 79 private equity investors with combined AUM of over $750B about their practices in firm valuation, capital structure, governance, and value creation. Investors rely primarily on IRR and multiples to evaluate investments. Their LPs focus more on absolute performance. Capital structure...
Persistent link: https://www.econbiz.de/10013023340
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Quality of Public Governance and the Capital Structure of Nations and Firms
Wei, Shang-Jin - 2018
This paper examines the role of public governance quality in determining the composition of a country's external liabilities and the capital structure of firms. In our theory, better institutional quality tends to promote a higher share of foreign direct investment and equity investment in total...
Persistent link: https://www.econbiz.de/10012930847
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Leverage-Induced Fire Sales and Stock Market Crashes
Bian, Jiangze - 2018
We provide direct evidence of leverage-induced fire sales contributing to a market crash using account-level trading data for brokerage- and shadow-financed margin accounts during the Chinese stock market crash of 2015. Margin investors heavily sell their holdings when their account-level...
Persistent link: https://www.econbiz.de/10012911095
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Do Financial Frictions Explain Chinese Firms’ Saving and Misallocation?
Bai, Yan - 2018
We use firm-level data to identify financial frictions in China and explore the extent to which they can explain firms …
Persistent link: https://www.econbiz.de/10012923717
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Chinese Capital Market : An Empirical Overview
Hu, Grace Xing - 2018
and is now the second largest in the world. Due to China's tight capital controls, the development of its capital market … bound to change substantially as China becomes more integrated into the global financial system. In this paper, we provide …
Persistent link: https://www.econbiz.de/10012926413
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The SOE Premium and Government Support in China's Credit Market
Geng, Zhe - 2019
We study how perceived government support for state-owned enterprises (SOEs), can shut out non-SOEs in China's credit … label. Examining the real impact of this deepening allocational inefficiency, we find that, since 2018Q2, non-SOEs in China …
Persistent link: https://www.econbiz.de/10012857737
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The Global History of Corporate Governance : An Introduction
Steier, Lloyd - 2013
This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada, China, France …
Persistent link: https://www.econbiz.de/10012754560
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Ownership and Control in Outsourcing to China : Estimating the Property-Rights Theory of the Firm
Feenstra, Robert C.; Hanson, Gordon H. - 2021
In this paper, we develop a simple model of international outsourcing and apply it to processing trade in China. We … observe China's processing exports broken down by who owns the plant and by who controls the inputs the plant processes …. Multinational firms engaged in export processing in China tend to split factory ownership and input control with managers in China …
Persistent link: https://www.econbiz.de/10013228044
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Globalizing Activities and the Rate of Survival : Panel Data Analysis on Japanese Firms
Kimura, Fukunari; Fujii, Takamune - 2021
This paper conducts a Cox-type survival analysis of Japanese corporate firms using census-coverage data collected by METI. A study of exiting firms confirmed several characteristics of Japanese firms in the 1990s. First, excessive internalization in the corporate structure and activities is...
Persistent link: https://www.econbiz.de/10013220825