This paper investigates the optimal disclosure strategy for private information in a mixed duopoly market, where a state-owned enterprise (SOE) and a joint-stock company compete to supply products. I construct a model where the two firms compete in either quantity or price, and uncertainty is...

In January 2010 the New Zealand Government introduced a continuous disclosure regime for State-Owned Enterprise (SOEs) modelled on the regime applying to publicly-listed companies (PLCs). The government sees continuous disclosure increasing the transparency of SOEs, and that this will lead to...

Studies on state ownership often involve endogeneity issues, such as a lack of variation in state ownership status and vastly different firm characteristics between state-owned enterprises and private firms. By using an exogenous regulatory reform, the split share structure reform in China, this...

We examine the effect of government ownership and its associated institutional incentives on firms' earnings quality using a sample of Chinese firms during the transitional economy between 1998 and 2005 when state-owned and non-state-owned firms were traded in the stock exchanges. We find that,...

This paper investigates whether U.S. regulatory actions around reverse mergers have exerted any spillover effects on the Chinese firms listed in China and whether Chinese firms have exhibited lower financial reporting quality than their U.S. counterparts. To test the possible spillover effect,...

Öffentliche Betriebe weisen einige Besonderheiten gegenüber privaten Betrieben auf. Dazu werden nach dem Zweck öffentlicher Betriebe und ihren unterschiedlichen Rechtsformen in Deutschland die betrieblichen Teilfunktionen Beschaffung, Produktion, Absatz, Personal, Finanzierung und...

Using audit-partner-level data on audit adjustments for public firms and audit-opinion data for private firms, we study whether and how public firm audit regulation impacts audit partners’ private firm auditing practices. We exploit a regulation in China that only applies to public firm...

This study examines the relation between state ownership and the performance of Chinese listed companies during the period 2002-2004. Results confirm that higher levels of direct state ownership have a negative, significant impact on market performance (Tobin’s Q) but not on operating...

Public firms provide a large amount of information through their disclosures. In addition, information intermediaries publicly analyze, discuss and disseminate these disclosures. Thus, greater public firm presence in an industry should reduce uncertainty in that industry. Following the...

The behavior and determinants of market to revenue ratios in public and private capital markets is examined. Three samples are analyzed : (1) all publicly traded stocks listed at some time on the NYSE/AMEX/NASDAQ in the 1980 to 2004 period, (2) sample of over 300 so-called “internet...