Following China's "One Belt One Road" global economic expansion strategy, Chinese small and medium-sized enterprises (SMEs) along with state-owned, large corporations are increasingly seeking business opportunities internationally. Little is known about the process of small firms' international...

Entrepreneurial activities in transition economies go beyond (technical) entrepreneurship. In an environment of institutional and procedural uncertainty entrepreneurs need to select business partners, choose a mode of governance that stabilizes long term business relations, and settle for such...

The changes in the employment structure in rural China are studied with a focus on off farm self-employment. Data from the China Household Income Project surveys covering the same 14 provinces from 1988 to 2018 are used. We find that the proportion of adults in rural China with self-employment...

The changes in the employment structure in rural China are studied with a focus on off farm self-employment. Data from the China Household Income Project surveys covering the same 14 provinces from 1988 to 2018 are used. We find that the proportion of adults in rural China with self-employment...

Based on a unique arrangement of trading and disclosure times around earnings announcements in the Chinese stock market, we provide evidence of a striking overnight-intraday disparity in terms of the reaction to earnings news. Specifically, we find that the overnight period exhibits a strong and...

Media dissemination has an important function in facilitating price discovery. Political pressure that restricts media dissemination can hinder this function and affect investors' perceptions. We investigate the magnitude and economic consequences of China's newspaper censorship, which blocks...

We examine the impact of China's anti-corruption campaign on firm-level financial reporting quality (FRQ). As an important component of the anti-corruption campaign, in October 2013, “Rule 18” was issued to prohibit party and government officials from serving as directors for publicly listed...

Public equity is an important source of risk capital, especially in China. The Chinese government has occasionally suspended IPOs, exposing firms already approved to IPO to indeterminate listing delays. The temporary bar on going public increases uncertainty about access to public markets for...

Exploiting China's anti-corruption campaign, we show that following a decrease in corruption, firm performance improves. Small and young firms benefit more. We identify the channels through which corruption hampers firm performance. Following the anti-corruption campaign, the allocation of...

The aim of the paper is to investigate the development of China’s state-controlled firms in the consumer electronics sector, where we focus on the evolution of firm business strategy and ownership structure, two aspects of a firm’s internal organization crucial for competitive advantage. The...