We investigate rights issues and open offers in Hong Kong. We observe that the greater the severity of firms’ management-agency problems, the more unfavourably shareholders tend to react, leading to more negative cumulative abnormal returns or rights forfeiture. Controlling shareholders do not...

This article investigates the effects of privatization on corporate performance in China. We focus on two very different industries: the manufacturing industry--the largest (relatively) competitive industry in China--and the basic material industry--the largest industry protected and closely...

The present study extends the international body of evidence on executive compensation by offering a novel account of the interaction of CEO gender with executive remuneration and firm performance in the Chinese market place. Examination of more than 10,000 firm-year observations, spanning the...

The August 1998 Hong Kong government intervention in the stock market offers a natural experiment for studying the relation between a free float and market liquidity, where a free float is the portion of listed share capital that is freely traded on the market. Our findings show that, relative...

This paper examines the information content of domicile relocation announcements of Hong Kong listed companies. The results suggest that investors regard the disadvantages of domicile relocation as more significant than the advantages. There are statistically significant negative abnormal...