Purpose – The aim of this paper, which is based on Cheng et al. ’s (2012) research, is to re-examines the relationship between a firms’ voluntary disclosure of forward-looking non-financial information (FNFI) and investment efficiency. Design/methodology/approach – The authors chose...

We examine whether and how insiders trade on government subsidies, a major instrument through which the governments intervene in the economy. Using a novel dataset of government subsidies of Chinese listed firms, we find that net insider purchase increases significantly during the month of...

This paper examines the association between firms' political connection and their voluntary disclosure on government subsidies using a sample of Chinese non-state-owned enterprises. For the sample period 2007-2016, we find that politically connected subsidy-receiving firms provide a lower amount...

This paper examines the effect of anti-subsidy investigation and penalty (through countervailing duties) on disclosure of government subsidy information by Chinese listed firms. We find that firms reduce disclosure of subsidy information when their exported products are facing anti-subsidy...

This paper examines the effect of textual risk disclosure on the amount of firm-specific information incorporated into share prices, as measured by stock price synchronicity, for Chinese listed firms during 2007-2011. We find that synchronicity is inversely associated with risk disclosure,...