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Institutional monitoring, coordination and corporate acquisitions in China
Peng, Fei; Anwar, Sajid; Kang, Lili - In: The North American journal of economics and finance : a … 51 (2020), pp. 1-16
Persistent link: https://www.econbiz.de/10012658654
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Coordinating tasks in M-form and U-form organisations
Qian, Yingyi; Roland, Gerard; Xu, Cheng-Gang - London School of Economics (LSE) - 2003
We model the coordination of specialised tasks inside an organisation as "attribute matching". Using this method, we … changes. Compared to the U-form, the M-form organisation achieves better coordination but suffers from fewer economies of …
Persistent link: https://www.econbiz.de/10010928762
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Coordinating Tasks in M-Form and U-Form Organisations
Qian, Yingyi; Roland, Gerard; Xu, Chenggang - Suntory and Toyota International Centres for Economics … - 2003
We model the coordination of specialised tasks inside an organisation as "attribute matching". Using this method, we … changes. Compared to the U-form, the M-form organisation achieves better coordination but suffers from fewer economies of …
Persistent link: https://www.econbiz.de/10005151125
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Chinese Debt Capital Markets : An Emerging Global Market...With Chinese Characteristics
Anderson, Ronald W. - 2017
This paper surveys the current state of the Chinese debt capital markets. As judged by its size and sophistication of its infrastructure the Chinese bond market it is already a leading market globally. China is unusual in that non-financial corporate issues account for a large fraction of the...
Persistent link: https://www.econbiz.de/10012951637
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Wealth Transfer Through Private Placements? Evidence From China
Lin, Jing - 2019
We examine private issuance of public equity (PIPE) in China, and our results suggest that PIPE investors benefit from the price manipulation before and after issuance. These investors tend to cash out after lockup expiration and make large profits. We also find evidence that the trading of PIPE...
Persistent link: https://www.econbiz.de/10012862178
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Informed Trading by Mutual Funds after Private Placement : Evidence from China
Lin, Jing - 2018
We examine the information content of changes in shareholdings after private issuance of public equity (PIPE) by mutual funds that participate in PIPEs in China. The results show that the changes in shareholdings are positively related to alpha and cumulative abnormal return (CAR) for PIPE...
Persistent link: https://www.econbiz.de/10012927882
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Restricted Shares and CSR : Evidence from Foreign Strategic Investors in China
Cui, Di; Ding, Mingfa; He, Zhongda; Shen, Mi - 2021
Using the hand-collected ownership data from a large sample of Chinese listed firms, we examine the link between foreign strategic ownership and firms’ corporate social responsibility (CSR). We find that foreign strategic ownership is significantly associated with higher CSR performance....
Persistent link: https://www.econbiz.de/10013321785
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Institutional Investors' Corporate Site Visits and Audit Fees : Evidence from China
Jin, Yige; Xu, Bozhi; Wang, Yunyi; Tian, Gaoliang - 2022
This study examines the impact of institutional investors’ site visits on audit fees. Taking benefit of mandatory disclosure of investors’ site visits information of firms listed on the Shenzhen Stock Exchange (SZSE) in China, we find that firms with more institutional investors’ site...
Persistent link: https://www.econbiz.de/10014244387
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Why Member Firms Hold More Cash When They Have Access to the Business Group’s Finance Company? Empirical Evidence of Tunneling from China
Peng, Hao - 2019
In China, firms within a business group may be able to access funds provided by a parent-owned finance company within the business group. We provide direct evidence of ‘tunneling': where the parent of the business group requires member firms to increase their cash holdings through deposits in...
Persistent link: https://www.econbiz.de/10012891213
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Controlling Shareholders’ Stock Pledge and Institutional Shareholding : Evidence from China
Li, Ni - 2017
This paper examines the impact of controlling shareholders' stock pledge on institutional shareholding using the sample of Chinese listed firms. Stock pledge means shareholders use stock of listed firms as the pledged assets to apply for loans. Using the sample of Chinese listed firms during the...
Persistent link: https://www.econbiz.de/10012949666