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The relationship between corporate governance characteristics and the risk of financial distress in the context of the Chinese transitional economy is being investigated. It is found that large shareholder ownership, state ownership, and the proportion of independent directors are negatively...
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The market setting of the Chinese securities markets is unique because of: (1) a mandatory requirement to release reported earnings within 120 days after the fiscal year ends; (2) a practice of announcing earnings and dividends simultaneously; and (3) a high percentage of shares in the hands of...
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This article discusses the general characteristics and issues of the privatization programs in China, including … constitutional changes, privatization with mergers and acquisitions, ownership structure in China, real estate reforms, and finance … workers are now employed by nonstate enterprises, suggesting that China is indeed a market-oriented economy. Interestingly, we …
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