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We examine the style of famine CEOs (CEOs who experienced China's Great Famine) in their corporate policy. By exploiting the variation in famine intensity across provinces, we find that CEOs who experienced more intense famines during their childhood are more risk averse. They use less debt,...
Persistent link: https://www.econbiz.de/10012915072
This paper utilizes the disposition coefficient to verify whether disposition effect exhibits in Taiwan and Chinese stock markets during the periods of financial crises, and to discuss the differences of the disposition effect between appreciation and depreciation periods. The empirical results...
Persistent link: https://www.econbiz.de/10009568779
We examine the role of ESG performance during market-wide financial crisis, triggered in response to physical and economic lockdowns arising from the COVID-19 global pandemic. These unique circumstances create an inimitable opportunity to question if investors interpret ESG performance as a...
Persistent link: https://www.econbiz.de/10012831183
relationship between enterprise philanthropy donation and enterprise profitability, and the result supports the political and … to better enterprise profitability. The result is even stronger in institutions weaker provinces …
Persistent link: https://www.econbiz.de/10013116575
after controlling for some fundamental factors for profitability and individual firm characteristics. In addition, our …
Persistent link: https://www.econbiz.de/10013159321
profitability during the 2007-2018 period, and the association is negatively moderated by bank size. An important policy implication … is that banks may build a concentrated ownership structure to enhance their profitability …
Persistent link: https://www.econbiz.de/10012824197
We study the efficiency of capital allocations at state-controlled and privately owned business groups in China. Using highly granular data on within-group capital transfers, we document stark differences: while private groups allocate more capital to units with better investment opportunities,...
Persistent link: https://www.econbiz.de/10012972324
We study the efficiency of capital allocations at state-controlled and privately owned business groups in China. Using highly granular data on within-group capital transfers, we document stark differences: while private groups allocate more capital to units with better investment opportunities,...
Persistent link: https://www.econbiz.de/10012972325
Previous studies show that profitability does not improve after share issue privatization (SIP) in China. We explore … overall negative or insignificant SIP profitability change. Using the difference-in-differences approach with various matched … samples, we show that there is a positive privatization effect and there is a negative listing effect on profitability. We …
Persistent link: https://www.econbiz.de/10012854433
In Viet Nam, the reform of state-owned enterprises (SOEs) in recent years has become an essential mission to improve their performance in the context of international economic integration. It also represents the commitment of the Vietnamese Government to renovating economic institutions as well...
Persistent link: https://www.econbiz.de/10012063856