This paper empirically investigates the performance of Chinese initial public offerings (IPOs). The data used covers … provide. Another possible factor is the poor corporate governance characteristics of Chinese enterprises …

We explore the effects of two kinds of competition on the cost of capital in the tax-exempt bond market: (1 …) competition amongst underwriters and (2) competition amongst issuers (most of which are quasi-public special authorities … sanctioned by state governments). The first kind of competition--essentially, competitive versus negotiated bidding processes …

emergence of the global fiscal cycle: governments' competition over the provision of reserve assets gives rise to strategic … complementarity in the issuances, even when the reserve assets are substitutes in partial equilibrium. We show our reserve-asset-competition …

By reducing the threat of a hostile takeover, business combination (BC) laws weaken corporate governance and increase … the opportunity for managerial slack. Consistent with the notion that competition mitigates managerial slack, we find that …, firms in competitive industries experience no significant effect. When we examine which agency problem competition mitigates …

institutional parameters (cost of financial intermediation, quality of corporate governance, and level of property rights protection …

Is greater trading liquidity good or bad for corporate governance? We address this question both theoretically and … information concerns her own plans for taking an active role in governance. We show that an increase in the liquidity of the firm … governance. Empirical tests using three distinct sources of exogenous variation in liquidity confirm the negative relation …