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The purpose of this paper is to analyze the impact of corporate governance on technical efficiency. We use the Translog stochastic production function to derive technical efficiency. Four empirical results are observed: (1) Technical efficiency has a negative relationship with the following two...
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the situation where the manager might underreport the firm's earnings to the shareholders or to the tax authorities and …
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The English version of this paper is at: http://ssrn.com/abstract=878672 Chinese Abstract:...
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English Abstract: The author proposes a new type of asset-backed security, called Exchange Traded Pieced Loan (ETPL), designed to address a variety of major issues for savers, lenders, borrowers, authorities and other stakeholders in China's markets for investment and credit. An ETPL's...
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