A competing risk hazard model is employed to examine the reasons for Hong Kong's Growth Enterprise (GEM) companies transferring to the Main Board (MB) in the period 2000-2012. In our sample during the period 21 companies or 15% of the original stock moved up to the MB. The modal life expectancy...

Chinese listed companies have a two-tier (dual) governance structure that comprises a supervisory board/committee (SB); and the board of directors (BoD). However as there is no hierarchical relationship between them, the two boards are independent. This is different from the governance mechanism...

Chinese listed companies have a two-tier (dual) governance structure that comprises a supervisory board/committee (SB) and the board of directors (BoD). However as there is no hierarchical relationship between them, the two boards are independent. This is different from the governance mechanism...

China's listed companies have two-tier boards comprising of a supervisory board and a board of directors. The supervisory board has the responsibility to oversee and monitor the board of directors. Similarly, the role of the independent non-executive directors (INEDs) is to advise and monitor...

In this study, we examine the effect of the market for corporate control (MCC) on firm risk-taking exploiting the staggered enactment of country-level merger and acquisition (M&A) laws of thirty-four countries as a plausibly exogenous source of variation in MCC. Consistent with the theoretical...

We analyze how the deregulation of Fintech investing affects banks’ deposit funding costs in the US. Using the exogenous removal of marketplace investing restrictions by US states, we show the cost of bank deposits increases by approximately 2.26%. The effects are attributable to deregulation...

We investigate the equity trading behaviour of foreign portfolio investors (FPIs) and the potential stock market implications during a period of tax treatment uncertainty in the Indian emerging market. Theoretical arguments predict that the trading reactions (entry and exit) of FPIs not only...

We conjecture that marketplace lending provokes an increase in the quantity of entrepreneurship, particularly in more regionally disadvantaged areas, albeit at lower average quality. Using a fuzzy regression discontinuity design that exploits exogenous variation in borrowers’ access to...

This paper investigates three areas of corporate finance, and the role of alternative finance in contributing to our understanding of these areas. First, we look at disclosure, information asymmetry, and adverse selection, and how different alternative finance solutions are used to mitigate...

We investigate the influence of the dual board structure on the financial performance of Islamic banks. The paper also investigates the unique agency relationships using a sample of 90 Islamic banks across 13 countries over the period 2006-2014. We find that the larger the Shari'ah Supervisory...