Misappropriation has become the accepted explanation for the refinancing behavior of Chinese listed companies, although the evidence in support of such an explanation is worthy of further discussion. We argue that if a planned refinancing exercise does not become a reality, post-refinancing...

Purpose: The purpose of this paper is to analyze the reason for Chinese local officials' enthusiasm towards cultivating newly listed firms within their jurisdictions.Design/methodology/approach: With new initial public offering (IPO) firms on the Chinese A-share market over 1999~2003 as samples,...

We examine the relation between local political corruption and firms' financial reporting conservatism using provincial-level data on corruption in China. The results show that firms in more corrupt regions report more conservatively. In other words, firms in the more corruption-prone regions...

Purpose – The purpose of this paper is to analyze the reason for Chinese local officials' enthusiasm towards cultivating newly listed firms within their jurisdictions. Design/methodology/approach – With new initial public offering (IPO) firms on the Chinese A‐share market over 1999‐2003...

Purpose–The purpose of this paper is to analyze the reason for Chinese local officials' enthusiasm towards cultivating newly listed firms within their jurisdictions. Design/methodology/approach–With new initial public offering (IPO) firms on the Chinese A-share market over 1999-2003 as...