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Ownership structure and firm performance: Evidence from the Chinese corporate reform
Kang, Young-Sam; Kim, Byung-Yeon - In: China Economic Review 23 (2012) 2, pp. 471-481
performance in China. Using both fixed effects model and Generalized Methods of Moments (GMM), this study finds that marketized …
Persistent link: https://www.econbiz.de/10010875335
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The effect of banking system reform on investment–cash flow sensitivity: Evidence from China
Tsai, Ying-Ju; Chen, Yi-Pei; Lin, Chi-Ling; Hung, Jung-Hua - In: Journal of Banking & Finance 46 (2014) C, pp. 166-176
This study investigates the effect of banking system reform on the investment behavior of Chinese listed firms. We find that the politically-oriented investment problem for state-controlled listed companies is mitigated by the reform due to foreign participation in the management of Chinese...
Persistent link: https://www.econbiz.de/10010907102
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SPACs with focus on China
Shachmurove, Yochanan; Vulanovic, Milos - Deutsche Zentralbibliothek für … - 2014
for companies from China in period 2004-2011. We offer the evidence that, similarly to evidence from studies on reverse … mergers focusing on China, SPACs that focus on China are not different in their characteristics from other SPACs. We test for … the performance of the SPACs focused on China and show that their performance is not inferior to the performance of other …
Persistent link: https://www.econbiz.de/10010957810
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Agency Conflicts, Expropriation and Firm Value: Evidence from Securities-Market Regulation in China
Henk, Berkman; Rebel, Cole; Fu, Lawrence - Volkswirtschaftliche Fakultät, … - 2005
In this study, we examine the wealth effects of regulatory changes intended to improve corporate governance by protecting minority shareholders from expropriation by controlling shareholders. Using data from publicly traded Chinese firms, we find that these new regulations significantly...
Persistent link: https://www.econbiz.de/10011260290
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The Value of Political Ties versus Market Credibility: Evidence from Corporate Scandals in China
Wong, T.J.; Hung, Mingyi; Zhang, Fang - HKUST Institute for Emerging Market Studies (IEMS), … - 2015
This paper compares the value of political ties and market credibility in China by examining the consequence of …
Persistent link: https://www.econbiz.de/10011266150
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Mixing Business with Politics: Political Participation by Entrepreneurs in China
Feng, Xunan; Johansson, Anders C.; Zhang, Tianyu - Stockholm China Economic Research Institute, … - 2013
We study how Chinese private entrepreneurs benefit from participating in politics. Using original hand-collected data on listed firms controlled by private entrepreneurs, we document a significant positive relationship between political participation and change in firm performance. We also...
Persistent link: https://www.econbiz.de/10010721650
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How does the relationship between multiple large shareholders affect corporate valuations? Evidence from China
Cheng, Minying; Lin, Bingxuan; Wei, Minghai - In: Journal of Economics and Business 70 (2013) C, pp. 43-70
This study analyzes how the relationship between non-controlling and controlling large shareholders affects corporate valuations. Using data from the Chinese market, we find that a firm's value is lower when its non-controlling large shareholders have a relationship with its controlling...
Persistent link: https://www.econbiz.de/10010730436
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Corporate evolution following initial public offerings in China: A life-course approach
Liu, Jia; Lister, Roger; Pang, Dong - In: International Review of Financial Analysis 27 (2013) C, pp. 1-20
control, the last being of particular interest in a mixed economy such as China. We find that delisting is predominantly …
Persistent link: https://www.econbiz.de/10010636500
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Retained State Shareholding in Chinese PLCs: Does Government Ownership Reduce Corporate Value?
Tian, Lihui; Estrin, Saul - Institute for the Study of Labor (IZA) - 2005
The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized …
Persistent link: https://www.econbiz.de/10005822452
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Improving corporate governance where the State is the controlling block holder: Evidence from China
Berkman, Henk; Cole, Rebel; Fu, Lawrence - Volkswirtschaftliche Fakultät, … - 2007
We examine changes in market values and accounting returns for a sample of publicly traded Chinese firms around announcements of block-share transfers among government agencies (“State Bureaucrats”), market-oriented State-owned enterprises (“MOSOEs”) and private investors (“Private...
Persistent link: https://www.econbiz.de/10005619712