This paper examines the relationship between ownership structures and IPO long-run performance in China. Although entrepreneurial firms underperform the market in general after IPO but the poor performance is mainly caused by the IPOs with ownership control wedge. Entrepreneurial firms with one...

This paper 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 conduct simplex,...

This study examines the effect of excess control rights on cash holding policy of Chinese family controlled firms. We find that excess control rights are positively associated to firms' cash holding of family controlled firms and that the high cash holding are tunnelled by controlling families...