We examine whether and, if so, how managerial efficiency influences stock price crash risk in Chinese listed firms. We find that superior managerial efficiency reduces stock price crash risk. Our mechanism analysis shows such a beneficial effect is achieved through improved information...

We examine the stock dividend puzzle in China during 1992-2008 by analysing the market reaction, who pays more or solely stock dividends compared to cash dividends and why. In general, stock dividends send a positive market signal which is stronger for larger stock dividends and simultaneous...