This paper studies how social media affect protest dynamics in China during 2009-2017. Based on 13.2 billion microblog posts, we use tweets and retweets to measure social media communication across cities and exploit its rapid expansion for identification. We find that despite strict government...

China's ‘Go Global' strategy has encouraged Chinese companies to seek to enhance China's resource security through acquisitions in foreign markets. Under the influence of this policy, Chinese companies have greatly increased outbound investment in recent years, and one consequence of this...

This study examines how strategic alliances affect idiosyncratic information. Theory suggests that strategic alliances bring complementary resources and contracting hazards to firms. Accordingly, we conjecture that alliance involvement reduces firms’ incentives to disclose idiosyncratic...

Far-right parties are gaining support across Europe. Their level of participation in national governments is increasing, and they are expected to make further gains in the European Parliament elections in June 2024. As their influence over European Union (EU) policy rises, it is imperative to...

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...

Literature on agency problems arising between controlling and minority owners claim that separation of cash flow and control rights allows controllers to expropriate listed firms, and further that separation emerges when dual class shares or pyramiding corporate structures exist. Dual class...

Prior literature on corporate governance in China asserts that state-owned enterprises (SOEs) are inefficiently run and badly governed—they are either worse than privately owned enterprises (POEs) or as bad. There is, however, no solid empirical evidence that underpins either claim. Using a...

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 draft explores the takeover war between Vanke (target) and Baoneng Group (bidder) and related issues on hostile takeovers in China. The Vanke-Baoneng case (hereinafter Vanke case) has raised many questions about corporate governance, a market for corporate control, market institutions,...

This paper employs a natural experiment research design to analyze the differences in the effects of the 2002 notice concerning private securities litigation issued by the Supreme People's Court on stock price performance in A/B-share markets. Using a sample of 162 twin A/B-shares issued by 81...