China is an increasingly influential emerging economy that is currently attracting the attention of academics, practitioners, and policy makers. This book is a collection of cutting edge research findings on issues relating to the experiences and challenges of China's capital market development.

Many recent studies have pointed out that firms with cash stocks or strong cash flow are financially resilient, enabling them to continue to invest and grow even when they experience economic shocks. In this paper we ask whether Asian firms were resilient to the recent financial crisis. Using...