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Persistent link: https://www.econbiz.de/10011288916
We investigate the informational roles of foreign ownership in local credit rating agencies (CRAs) in the Chinese onshore debt market, which was the world's largest emerging debt market from 2008 to 2017. We find a robust negative relationship between the bond offering yield and foreign...
Persistent link: https://www.econbiz.de/10012850434
the experience of China, an economy undergoing dramatic institutional change in the last 20 years with rich variation in …
Persistent link: https://www.econbiz.de/10012148706
underwriter reputation for issuers with different ownership structures in China. We document a significantly inverse relationship …
Persistent link: https://www.econbiz.de/10013097123
At one time, inward direct investment in China was only possible using foreign exchange. Since the ban on using the …
Persistent link: https://www.econbiz.de/10013105080
The “China concepts stock” in the U.S. has attracted a great deal of attention among international investors due to the … Chinese firms over 1993-2010 by considering the great impact of split-share structure reform in China. We find that the …
Persistent link: https://www.econbiz.de/10013065928
findings show that investors in China are aware of the NCP events and they earn abnormal returns through active trading …
Persistent link: https://www.econbiz.de/10013162647
This paper investigates the effects of largest-shareholder ownership concentration, foreign ownership, and audit quality on the amount of firm-specific information incorporated into share prices, as measured by stock price synchronicity, of Chinese-listed firms over the 1996-2003 period. We show...
Persistent link: https://www.econbiz.de/10013159195
ratios in China. We find that the causality is one-directional from oversubscription ratios to IPO initial returns in the … prices to be determined by market forces in China …
Persistent link: https://www.econbiz.de/10012898955
We examine various aspects of the IPO market in China—the policy history, IPO pricing, bids and allocation, and … aftermarket trading under two lenses: IPO theories and the unique regulatory environment in China. We show that heavy …
Persistent link: https://www.econbiz.de/10012824565