We investigate the cross-section variations in underpricing of Chinese initial public offerings (IPOs), using data of 308 firm-commitment offerings. After correcting for the endogeneity problems inherent in a number of regressions, we find evidence that underpricing can be explained in terms of...

In this paper, we empirically identify some of the causes of cross-sectional differences in underpricing of Chinese initial public offerings (IPOs) using data compiled for 308 firm-commitment A-share IPOs (available only to Chinese investors) and 57 B-share IPOs (available only to foreign...

This paper investigates the relationship between industrial diversification and firm valuation in a sample of 816 publicly listed firms in China. It contributes to the literature in three ways. First, it is one of the first studies of diversification and firm value in an emerging market...

This paper combines artificial neural networks (ANN), fuzzy optimization and time-series econometric models in one unified framework to form a hybrid intelligent early warning system (EWS) for predicting economic crises. Using quarterly data on 12 macroeconomic and financial variables for the...

The above article (DOI: <DOI HREF="10.1002/mde.1447">10.1002|mde.1447</DOI>) was published online in Early View on 29 October 2008. Printing errors were subsequently identified in the article. <P>Page 1: There should be no affiliation 'd' Page 1: Affiliation 'a' should read: 'Department of Economics and Finance, City University of...</p></doi>

This article explores the executive compensation structure in China. Using unbalanced panel data on 17,178 executives in 1,386 publicly listed firms in China during 1999–2006, we find that (1) both executive pay and the pay gap between executive ranks increased over time; (2) pay distribution...

This paper documents significant abnormal profits for industry momentum strategies in Chinese stock markets. Industry momentum remains profitable even after controlling for lead-lag effect, the January effect, and individual stock momentum. Moreover, momentum profits generated by...

This paper applies a two-stage, double bootstrapping data envelope analysis approach to investigate whether and to what extent various distinctive corporate governance practices affect productive efficiency in a sample of 461 publicly listed manufacturing firms in China between 1999 and 2002. We...