In most countries where firms list separate shares for trading by foreign and domestic investors, the prices of the foreign shares tend to be higher. In China, the reverse tends to be true. In this paper, we would like to focus on the information content in lagged premiums of Chinese A over B...

Prior empirical evidence supports the wealth expropriation hypothesis that weak corporate governance induced by certain types of ownership structures and board composition tends to result in minority interest expropriation. This in turn reduces corporate value. However, it is still unclear...

This study presents a transformed first-price sealed-bid auction with independent private values to determine the equilibrium royalties and subsidies in Public–Private Partnerships. The proposed model implies that royalties and subsidies are influenced by the true values bidders assign to a...