This article explores the executive compensation structure in China. Using unbalanced panel data on 17,178 executives in 1,386 publicly listed firms in China during 1999–2006, we find that (1) both executive pay and the pay gap between executive ranks increased over time; (2) pay distribution...

This paper documents significant abnormal profits for industry momentum strategies in Chinese stock markets. Industry momentum remains profitable even after controlling for lead-lag effect, the January effect, and individual stock momentum. Moreover, momentum profits generated by...

This paper investigates whether and to what extent ownership structure and corporate governance affect productive efficiency in a sample of 744 publicly listed manufacturing firms in China between 1999 and 2006. The paper finds that firm efficiency, as estimated using stochastic frontier...

This article tests several predictions of tournament theory on executive compensation in the context of a transition economy. Using an unbalanced panel of 34,701 executives in 1,386 public listed firms in China during 1999 and 2006, the paper finds that (1) pay increases as executives move up...

<title>Abstract</title> Using data for 1203 publicly listed firms in China during 1999--2002, this paper empirically investigates whether and to what extent state control affects managerial incentives, including managerial compensation and CEO turnover. The paper finds that CEO turnover is negatively related...

This paper combines artificial neural networks (ANN), fuzzy optimization and time-series econometric models in one unified framework to form a hybrid intelligent early warning system (EWS) for predicting economic crises. Using quarterly data on 12 macroeconomic and financial variables for the...

The above article (DOI: <DOI HREF="10.1002/mde.1447">10.1002|mde.1447</DOI>) was published online in Early View on 29 October 2008. Printing errors were subsequently identified in the article. <P>Page 1: There should be no affiliation 'd' Page 1: Affiliation 'a' should read: 'Department of Economics and Finance, City University of...</p></doi>