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Investigating the impact of three types of state ownership on firms' dividend pay-out decisions for the first time, this study focuses on the differences in dividend pay-out behavior among various state ultimate owners. It has been found that the state enterprises supervised by lower level state...
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This paper examines the link between unionisation and firm performance in China's manufacturing industries. The … empirical results suggest that unionisation has not greatly benefitted workers in China's textile industry but it has …
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of the financial market in China. First, better investor protection mechanisms at target countries, such as better law … shareholders of bidding firms around China's outward cross-border mergers. Second, firm-level corporate governance mechanisms are … explaining firm values in China …
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The high sensitivity of management compensation to accounting performance could be an important driver of financial restatement, due to strong management incentives to manipulate earnings. This paper examines whether restating firms rearrange management's annual compensation following...
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Coal use accounts for a very large proportion of electricity production in China. Using a recently developed coarsened … performance of firms in China's coal mining industry. Our empirical results reveal that firms in China's coal industry that … concerned, whether or not a firm in China's coal industry conducts R&D makes no difference. We find that foreign direct …
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Differences in information between senders and receivers can result in inefficiency due to adverse selection or moral hazard. Therefore, one critical issue of organization design is how to induce truth-telling from the informed but biased agent by restructuring organizational forms. This study...
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Using nationwide survey data in China, we find evidence of positive FDI spillover effects via entrepreneurship. After …
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