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beneficial in curbing insiders’ self-serving behaviors and encourage managers’ good behaviors …
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stocks in the highest price delay decile portfolio have fewer directors and top managers, lower state ownership, higher …-level analysis shows that the number of directors, the number of top managers, and CEO-Chair separation significantly negatively …
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environment is weak, that is, a sound legal environment can effectively prevent the opportunistic behavior of managers. Besides …
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China has sustained a rapid rate of economic growth and absorbed a great deal of foreign investment over the past decades. However, the laws pertaining to business in China have not kept up with China's market growth. For this reason, investors in the Chinese stock market must assess associated...
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Alibaba, the e-commerce giant that completed a record-setting IPO in the United States in 2014 and was valued at over $700 billion in early 2021, is one of hundreds of Chi-na-based firms listed in the United States whose controlling insiders are largely law-proof: the corporate and securities...
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In this paper, we examine the information content of insider transactions in China and analyze how ownership structures shape market reaction to these transactions. We find that the cumulative abnormal return (CAR) to insider purchases is a convex function of the percentage of shares owned by...
Persistent link: https://www.econbiz.de/10013005823
I find evidence of valuable private information in the Chinese stock market. First, Chinese actively managed stock mutual funds outperform passive benchmarks including market, size, value, and momentum factors. Most funds appear to have skill, and much of that skill consists of stock-picking...
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