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The media in China has undergone extensive commercialization to become more market-driven over the last 35 years. Based … on a sample of over two million newspaper articles, this study investigates whether the media in China has an incremental … from random walk decreases. Our inter-regional analysis over thirty-one provinces/regions within China reveals that the …
Persistent link: https://www.econbiz.de/10011844626
for companies from China in period 2004-2011. We offer the evidence that, similarly to evidence from studies on reverse … mergers focusing on China, SPACs that focus on China are not different in their characteristics from other SPACs. We test for … the performance of the SPACs focused on China and show that their performance is not inferior to the performance of other …
Persistent link: https://www.econbiz.de/10010332133
-corporate loans in China on the stock prices of the firms involved. We find that the average abnormal return for the issuers of inter …
Persistent link: https://www.econbiz.de/10011431111
We examine the impact of mutual fund ownership on stock price informativeness in China. Existing evidence shows that … stock price informativeness is low in China, and attributes this to firms' lack of disclosure incentives under the weak … mutual funds in China can also be moderated by state ownership of listed firms, which reduces firms' dependence on outside …
Persistent link: https://www.econbiz.de/10013096932
Structure Reform in China. This reform abolishes the trading restriction of shares held mainly by state shareholders, which in …
Persistent link: https://www.econbiz.de/10013108803
This study finds that Chinese firms that issue high-quality corporate social responsibility (CSR) reports are perceived as having greater legitimacy (operationalized by government endorsement and media endorsement) by the Chinese government and media. Chinese firms that issue higher quality CSR...
Persistent link: https://www.econbiz.de/10012975063
The media in China has undergone extensive commercialization to become more market-driven over the last 35 years. Based … on a sample of over two million newspaper articles, this study investigates whether the media in China has an incremental … from random walk decreases. Our inter-regional analysis over thirty-one provinces/regions within China reveals that the …
Persistent link: https://www.econbiz.de/10013014216
We establish that stock liquidity is conducive to less corporate diversification. Two potential channels are identified: the financial constraint channel and the corporate governance channel. Specifically, we find that the negative effect of liquidity on diversification is stronger among...
Persistent link: https://www.econbiz.de/10012852052
High technology and innovation has become a central part of China's long-term growth strategy. The 2007 enterprise tax … the stock market reaction to high-tech certificates announcements in China, we find that high high-tech certificate …
Persistent link: https://www.econbiz.de/10013023718
We examine China's June 2013 liquidity crunch as a negative shock to banks and analyze the wealth effects on exchange … relationships. This effect is the strongest for firms that enjoy good relations with China's large state-owned banks or foreign …
Persistent link: https://www.econbiz.de/10012918494