This paper empirically investigates the relation between uncertainty and investment among China's listed companies, and analyzes the influence of government control on the investment-uncertainty relation. We find that there is a negative relation between total firm uncertainty and investment in...

The reforms of China's financial system have significantly changed the country’s financial sector. One noteworthy phenomenon is that many nonfinancial firms have obtained equity stakes in financial institutions. This study investigates the motivations behind and economic consequences of this...

Building on the theory of Burkart et al. (2003) that family ownership and control of firms mitigate the twin conflicts between owners and managers and between majority and minority owners, we suggest that the allocation of firm ownership rights and informal governance within controlling families...

This paper investigates the intra-industry spillover effects of corporate scandals in China. Using corporate scandal announcements, we show how a contagion effect spreads to peer firms depending on the quality of corporate governance and political connections at these firms. Good corporate...