This paper investigates the relationship between mutual funds' holdings and listed firms' dividend policies in China. We find that mutual funds prefer to hold the shares of listed firms that pay cash or stock dividends. However, mutual funds are not particularly attracted to firms that pay high...

This study investigates the influence of fintech on developments in China's financial sector across 290 cities and 31 provinces between 2011 and 2018. Using a two-stage least squares instrumental variable regression approach and correcting for cross-sectional dependency, simultaneity, and...

Using data from the Chinese A-share market in 2004-2012, this paper shows how cognitive bias of individual analysts lead to counter-productive effect in less-developed financial markets. We form an ex-ante measure of analysts' expectation error, a measure suitable for markets with short history....

Following stakeholder resource-based theory (SRBT), we conceptualize the value relevance of corporate social irresponsibility (CSI) based on the bargaining power that stakeholders possess regarding firms' inputs and revenue generations. Accordingly, we classify the stakeholders into residual...

Using data from Chinese listed firms, this paper examines the investment behavior of Qualified Foreign Institutional Investors (QFIIs). QFIIs have a preference for large well known firms with some element of state ownership, lower liability levels and greater turnover capacity. Furthermore, the...

Using data from Chinese listed firms, this paper examines the investment behavior of Qualified Foreign Institutional Investors (QFIIs). QFIIs have a preference for large well known firms with some element of state ownership, lower liability levels and greater turnover capacity. Furthermore, the...

Chinese banks have gradually expanded their financial services into overseas financial services and financial trade transactions. The financial services system is becoming more and more humanized and intelligent with the global economy’s rapid development and progress. It improves the quality...

In 2021, China took steps to build a new development pattern of the bond market and achieved new results in promoting the high-quality development, making a good start to the 14th Five-Year Plan period. Under the leadership and guidance of competent authorities, China Central Depository &...

In December 2021, international commodity prices increased sharply, the US Consumer Price Index (CPI) increased by 7% year-on-year while the CPI of euro area increased by 5% year-on-year. In China, the CPI increased by 2.3% year-on-year, the Producer Price Index (PPI) increased by 10.3%...

Background: Internet finance has grown rapidly in China over the past years. Through introducing internet finance’s “reducing management cost” and “raising capital cost” effects into bank risk-taking model, this paper systematically investigates the dynamic and heterogeneous influence...