Showing 1 - 10 of 113
Event study analysis is applied to investigate stock price reaction to the announcement of bonus issues for the emerging stock markets of China. Results show that the issues with a high bonus ratio (number of bonus shares in the issue/number of existing shares) usually attract positive returns...
Persistent link: https://www.econbiz.de/10012738912
This study employs the ARDL cointegrating approach to examine the impact of financial liberalization on the relationships between three Chinese main bilateral exchange rates and its share market performance. We discovered that a long-term equilibrium relationship measured by cointegration has...
Persistent link: https://www.econbiz.de/10009457348
This paper extends prior research to examine the managerial ownership influences on firm performance through the choices of capital structures by using a new sample of S&P 500 firm in 2005. The empirical results of OLS regressions replicate the nonlinear relationship between managerial ownership...
Persistent link: https://www.econbiz.de/10009457419
This paper investigates the impact of market conditions of market return and volatility on choosing an IPO mechanism, using data of 942 IPOs on either Shanghai or Shenzhen stock exchanges of China from 1994 to 2003. We find, on average, the issuers are more likely to have their IPOs offering and...
Persistent link: https://www.econbiz.de/10009448668
In the literature, information asymmetry and valuation uncertainity are always referred to the important concerns for a firm to choose an initial public offering (IPO) allocation procedure. The new emerging stock market of China is a unique trial place as it has possibly practiced three pairs of...
Persistent link: https://www.econbiz.de/10005452317
We investigate the impact of manager political connection and founder status on tunneling in China's listed firms from 2004 to 2010. By classifying the political connections into three dimensions with two categories of controlling ownerships, we find that overall manager political connection is...
Persistent link: https://www.econbiz.de/10010729566
Purpose – The authors examine the debt maturity structure of Chinese listed companies during the period when bond market was under-developed and the majority of commercial banks were owned by the state. The purpose of this paper is to answer why and how the different ownership control types...
Persistent link: https://www.econbiz.de/10010778782
Persistent link: https://www.econbiz.de/10005210407
This article investigates the impact of ownership and ownership concentration on the performance of China's listed firms. By recognizing the differences between ownership and ownership concentration and between total ownership concentration and tradable ownership concentration, we find that...
Persistent link: https://www.econbiz.de/10008751685
Persistent link: https://www.econbiz.de/10007726487