The theoretical industrial organization literature cites varying factors which might influence the degree of technical efficiency achieved under different ownership structures in the US hospital industry. Unfortunately, this literature offers no consensus regarding the net direction and...

A rich empirical research suggests that corporate disclosures are important means for management to communicate firm performance and governance to outside investors. (e.g. Chau & Gray, 2002; Mohd Ghazali & Weetman, 2006). In the last few years, there is an increasing attention regarding...

The aim of this research is to study the effects of real exchange rates on the long-term ownership strategies of production facilities of firms entering foreign markets. Among the strategies considered are exporting (EXP), joint ventures with local partners (JV), and wholly owned production...

This paper considers evidence on business group productivity performance in China. It also carries out a detailed investigation into China's 50 largest groups to see if pyramidal groups are forming. As such, we further explore what can be considered as some of the positive and negative...

In the recent financial crisis, macroeconomic stimuli produced mixed results across developed economies. In contrast, China's stimulus boosted real GDP growth from an annualized 6.2% in the first quarter of 2009 trough to 11.9% in the first quarter of 2010. Amidst this phenomenal response, land...

The central objective of our paper is to empirically examine the relationship between the ownership structure of firms and their export performance using data from Korea. Due to growing globalization, export performance has become a highly influential determinant of firm performance. While a...

This paper reconsiders the issue of share price reactions to dividend announcements. Previous papers rely almost exclusively on a naive dividend model in which the dividend change is used as a proxy for the dividend surprise. We use the difference between the actual dividend and the analyst...

Purpose – The purpose of this paper is to investigate the impact of independent directors and ownership structure on voluntary disclosures of Vietnamese listed firms. Design/methodology/approach – Year-ending 2008 annual report disclosures of 45 Vietnamese listed firms are analyzed....

The aim of this paper is to identify and analyse the influence of ownership concentration on stock market liquidity in general, and the adverse selection component of the spread in particular for a panel of Tunisian firms from 2001 to 2007. We document that firms with greater insider ownership...