Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data … listing suspension mechanism, i.e., the ST designation, adopted by China's securities regulatory agency appears to be … literature on economic transition, our findings suggest that any fundamental improvement in China's corporate governance will …

Recent studies suggest that momentum returns are conditioned by market states, but we find that China is different …. First, we find that momentum returns in China exclusively follow DOWN markets contrary to the U.S. evidence. Second, the … absence of momentum returns following UP markets in China cannot be explained by market dynamics, unlike in the U.S. Third …