To examine whether outside (or independent) directors monitor management in the shareholder interest, the authors collect Japanese companies that experience 33 per cent or more performance declines during the financial crisis (for the 2008 accounting year) and investigate how board independence...

Chinese firms can suspend trading of their stocks when they announce major events. We find that stock-swap acquirers tend to suspend stock trading after a significant stock price run-up. Suspending bidders show significantly high returns both in the short and long run following the announcement...

We analyse the long-term stock performance of Chinese initial public offerings (IPOs) between the years of 2000 and 2007. The results reveal that firms with political connections experience better long-term stock performance. Our results suggest that the abolition of the Issuance Quota System...

type="main" xml:id="acfi12006-abs-0001" <title type="main">Abstract</title> <p>Discretionary current accruals of Chinese initial public offering (IPO) firms decreased after the abolition of fixed-price offering systems that directly linked offering price to reported earnings. Results suggest IPO firms that decrease...</p>