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Persistent link: https://www.econbiz.de/10015062530
We document the changes in dynamic stochastic structure of the various industrial sectors of the Chinese A, B share markets and the Hong Kong share markets. We utilize a robustly estimated VECM-MV-GARCH model to test for possible co-integrating vectors between the market segmentations pre and...
Persistent link: https://www.econbiz.de/10013153295
We document the changes in dynamic stochastic structure of the various industrial sectors of the Chinese A, B share markets and the Hong Kong share markets. We utilize a robustly estimated VECM-MV-GARCH model to test for possible co-integrating vectors between the market segmentations pre and...
Persistent link: https://www.econbiz.de/10012976754
Persistent link: https://www.econbiz.de/10010378467
How do developments at lending institutions that alter the way they grant and monitor loans influence their borrowers' financial reporting quality (FRQ)? We examine this question by investigating the influence that privatizations of Chinese state banks (CSBs) had on the quality of their...
Persistent link: https://www.econbiz.de/10012936432
price. A new policy in China (Regulation No.18) forced politicians to resign as directors, providing an exogenous shock to … resigned after 2013. A regression discontinuity design reveals no immediate impact after the announcement of the regulation …
Persistent link: https://www.econbiz.de/10012854991
From the start of China's "corporatization without privatization" process in the late 1980s, a Chinese corporate governance regime apparently shareholder-empowering and determined by enabling legal norms has been altered by mandatory governance mechanisms imposed by a state administrative...
Persistent link: https://www.econbiz.de/10013032062
been cannibalized by all-encompassing securities regulation directed at corporate governance, at least for companies with …
Persistent link: https://www.econbiz.de/10013063700
This study examines the effects of China’s 2008 trading ban regulation on the insider trading of large shareholders in … a financial report), due to high regulation risk. However, the ban only constrains the profitability of insider trades ….83 times more profitable than uninformed trading. The regulation has changed insider trading patterns, but has been ineffective …
Persistent link: https://www.econbiz.de/10011844464
This paper explores the impact of regulations imposed by the Chinese government on the development of the Chinese IPO market between 2000 and 2011. Some of these regulations have affected the population of Chinese firms that went public domestically, some firms being excluding from the domestic...
Persistent link: https://www.econbiz.de/10011741551