Purpose: The authors examine whether Chinese banks use loan loss provisions (LLPs) for capital management, income smoothing and signaling purposes, and assess the effect of the recent regulatory changes following the implementation of Chinese Basel III on such behavior....

Fonterra Group Cooperative Limited, New Zealand’s largest company, is owned by the dairy farmers who supply milk. Each dairy farmer owns the same number of shares as the kilograms of milksolids supplied. Farmers therefore have an investment in Fonterra, and when a farm is purchased, there is a...

This study examines the relationship between board composition and firm value, and the extent to which this relationship may be affected by a company’s investment opportunity set. There is little research that examines this issue, particularly for the New Zealand market. Of the research that...