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Political connections and minority-shareholder protection: Evidence from securities-market regulation in China

Berkman, Henk; Cole, Rebel; Fu, Lawrence - Volkswirtschaftliche Fakultät, … - 2008

We examine the wealth effects of three regulatory changes designed to improve minorityshareholder protection in the Chinese stock markets. Using the value of a firm’s related-party transactions as an inverse proxy for the quality of corporate governance, we find that firms with weaker...

Persistent link: https://www.econbiz.de/10005622187

The Emergence of Corporate Pyramids in China

Fan, Joseph P.H.; Wongb, T.J.; Zhang, Tianyu - Center for Economic Institutions, Institute of Economic … - 2006

not have a very deep pocket - as indicated by whether they are among the top-100 richest people in China. …

Persistent link: https://www.econbiz.de/10005045175

The Value of Political Ties versus Market Credibility: Evidence from Corporate Scandals in China

Wong, T.J.; Hung, Mingyi; Zhang, Fang - HKUST Institute for Emerging Market Studies (IEMS), … - 2015

This paper compares the value of political ties and market credibility in China by examining the consequence of …

Persistent link: https://www.econbiz.de/10011266150

The effect of banking system reform on investment–cash flow sensitivity: Evidence from China

Tsai, Ying-Ju; Chen, Yi-Pei; Lin, Chi-Ling; Hung, Jung-Hua - In: Journal of Banking & Finance 46 (2014) C, pp. 166-176

This study investigates the effect of banking system reform on the investment behavior of Chinese listed firms. We find that the politically-oriented investment problem for state-controlled listed companies is mitigated by the reform due to foreign participation in the management of Chinese...

Persistent link: https://www.econbiz.de/10010907102

Blockholder exit threats in the presence of private benefits of control

Hope, Ole-Kristian; Wu, Han; Zhao, Wuyang - 2016

this prediction using the Split-Share Structure Reform (SSSR) in China, which provided a large, exogenous, and permanent …

Persistent link: https://www.econbiz.de/10011624469

Blockholder exit threats in the presence of private benefits of control

Hope, Ole-Kristian; Wu, Han; Zhao, Wuyang - 2016

this prediction using the Split-Share Structure Reform (SSSR) in China, which provided a large, exogenous, and permanent …

Persistent link: https://www.econbiz.de/10011646329

Founder control, ownership structure and firm value : evidence from entrepreneurial listed firms in China

Xia, Lijun - In: China journal of accounting research : CJAR 1 (2008), pp. 31-49

ultimately controlled by individuals or families (hereafter “entrepreneurial firms”) for 2004 in China, to investigate the effect …

Persistent link: https://www.econbiz.de/10011823380

Ultimate government control structures and firm value : evidence from Chinese listed companies

Wang, Kun; Xiao, Xing - In: China journal of accounting research : CJAR 2 (2009) 1, pp. 101-122

state ownership remains widespread in China's stock markets. Three questions are considered that are related to government …

Persistent link: https://www.econbiz.de/10011823423

Do dividend tax cuts lead firms to increase dividends : evidence from China

Wang, Chun Fei; Guo, Yunnan - In: China journal of accounting research : CJAR 4 (2011) 4, pp. 197-209

-in-difference estimation, we find that China’s dividend tax cut in 2005 led firms to increase their dividend payments. Companies with higher … increase their dividend payments. These findings support the existence of a causal relationship between China’s tax cut and …

Persistent link: https://www.econbiz.de/10011823786

Determinants and features of voluntary disclosure in the Chinese stock market

Lan, Yang; Wang, Lili; Zhang, Xueyong - In: China journal of accounting research : CJAR 6 (2013) 4, pp. 265-285

represents about 80% of all public companies in China. Our findings suggest that voluntary disclosure in China is positively … extensive disclosure benefits public companies in China in the form of a lower cost of equity. …

Persistent link: https://www.econbiz.de/10011825892