This paper examines the impact of the US-China trade war on the operating performance of Chinese export-oriented SMEs with US customer concentration. Using a unique dataset derived from textual analysis and company information from the New Third Board Market, we employ matched pairs analysis to...

This paper analyses the introduction of leveraged buyouts in China and Taiwan. It focuses on how leveraged buyout firms (foreign financial intermediaries) operate in institutional environments where the state and family blockholder groups are important owners and stakeholders in the private...

We investigate the relationship between the intensity of share pledging activities and the level of financial constraint. Using a sample of Chinese publicly listed firms from 2003 to 2018, our main findings are fourfold. First, we document that the high financial constraint level may motivate...

We study the effect of reverse mergers (RMs) on audit fees in China. Using a manually assembled data set from 2010-2019, we find that RMs pay higher audit fees than their IPO counterparts due to increased risks of corporate litigation and financial misstatement. RMs with performance commitments...

We examine the impact of listing via a reverse merger (RM) on audit fees, which can serve as an indicator of a firm’s perceived risk. Using a manually assembled dataset of Chinese companies from 2010-2019, we find that RMs tend to pay higher audit fees than their counterparts who undertake an...