The earnings-returns relation asymmetry indicates the changing relation between earnings and returns when the nature of earnings information differs in a certain way. Literature has documented a variety of asymmetric relations and provided a wide range of explanations. Hayn (1995) accounted for...

We examine the consequences of shifting the IPO offer pricing power from securities regulators to market participants in a representative weak investor protection country, China. We show IPO offer prices relative to reported earnings are less depressed when determined by market participants than...

Alibaba, the e-commerce giant that completed a record-setting IPO in the United States in 2014 and was valued at over $700 billion in early 2021, is one of hundreds of Chi-na-based firms listed in the United States whose controlling insiders are largely law-proof: the corporate and securities...

We examine the efficacy of public enforcement in weak investor protection countries by examining the outcomes of a comprehensive public enforcement campaign in China. The campaign, launched in 2007, was designed to help enforce China's first mandatory Corporate Governance Code, issued in 2002....

This paper aims at understanding the recent evolution of Chinese accounting standards while focusing on the accounting for business combinations as case of reference. A comprehensive comparative analysis between International Accounting Standards Board's and Chinese accounting standards is...

This paper investigates the relationship between fair value accounting and the behavior adjustment of commercial banks which is aimed at catering to the regulatory requirements by using a dataset from Chinese listed commercial banks from 2007-2011.The empirical results show that (1) The...

In 2006, the China Accounting Standards Committee (CASC) issued its Statement No. 20, which permits both the purchase and pooling of interests (or merger) method of accounting for business combinations. The decision of the CASC in Statement No. 20 stands in contrast to the decisions taken by the...

How to manage financial performance through the utilization of intellectual capital (IC) is an important issue in the knowledge economy. The objective of this study is to investigate the impact of IC on financial performance for manufacturing listed companies in the Chinese context. Financial...

We provide the first comprehensive and robust evidence on the relationship between board independence and firm performance in China. We find that independent directors have an overall positive effect on firm operating performance in China. Our findings are robust to a battery of tests, including...

Chinese data enable investigation of the relationship between underpricing of initial public offerings (IPOs) and legal protection with controlling for time-invariant characteristics of regions. Our investigation of Chinese IPOs between 1997 and 2009 shows that firms from a province with more...