This study investigates whether ownership structure has a significant effect on the performance of listed firms in China. It also investigates what level of Chinese institutional ownership may be the most advantageous. The results of the empirical analysis of firms listed on the Shanghai and...

This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on executive compensation, ownership structure and board...

As financial institutions and policymakers worldwide are considering how to integrate sustainability considerations throughout financial systems, a critical question is whether banks can effectively assess and monitor borrowers' environmental credit risk. China's green credit reforms, part of...

This paper examines the progress of state-owned enterprise (SOE) reform in the People’s Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE...

Since the first corporate law in China was passed in 1993（the 1993 Corporate Law), China took a rather strict approach on enforcing capital maintenance requirement, especially through a requirement of a statutory minimal registered capital. Such an approach survived in the substantial revision...

China could not have achieved its economic growth in a vacuum of legal development. But its legal system is facing unprecedented challenges brought about by vast social changes and the country's increasingly deep integration with the rest of the world. One such challenge is the sudden...

Using a worker-firm matched sample, this paper compares the changes of wage structures of urban and rural enterprises following public sector restructuring in China's manufacturing sector. While the wage responses of rural firms with respect to firm characteristics are found to have declined...

Per the invitation of the 2008 China-US Forum and Gala Organizers, the author shared China's experience on financial reform and opening-up over the past three decades on a step-by-step basis. During this process, China has created some unique financial structures that may well be worth looking...