China is the world's largest investor and greatest contributor to global economic growth by wide margins. The … that China's stock market has a crucial role to play. Since the reforms of the last decade, China's stock market has become …, growth stocks, and long shots, and they discount for illiquidity and market risk. China's stock market no longer deserves its …

This paper shows that, counter to common perception, stock prices in China are strongly linked to firm fundamentals …. Price informativeness is significantly correlated with corporate investment efficiency. For international investors, China …

On the basis of an accrual decomposition into two components capturing output growth and accounting distortions, this … earnings performance is driven only by the component attributable to accounting distortions, and the accrual effect on stock … growth. These two components complement each other in driving the accrual effect on stock returns …