After examining both the interday and intraday return volatility of the Shanghai Composite Stock Index, it was found that the open-to-open return variance is consistently greater than the close-to-close variance. Examining the volatility of interday returns and variance ratio tests with...

[Extract] Many studies have appeared, in both English and Chinese, focusing on income distribution in rural China1. They point to a worsening trend since the late 1970s when China initiated economic reforms. Such a trend has serious implications for China's ability to maintain sustainable growth...

This study examines the determinants of multiple states of financial distress by applying a competing-risks model. It investigates the effect of financial ratios, market-based variables and company-specific variables, including company age, size and squared size on three different states of...

This paper examines the effect of state control and ownership structure on the leverage decision of firms listed in the Chinese stock market. Our results show that state-owned enterprises (SOEs) have higher leverage ratios than non-SOEs, and SOEs in regions with a poorer institutional...

This paper synthesizes factors that could contribute to the failure of basic service delivery to the poor. It also highlights successful projects and good practices from developing Asian countries which may help promote inclusiveness in providing basic social services in developing countries....

The global economic recession is severely affecting Asian economies. Timely assessment of the economic and social impacts is critical to the formulation and implementation of policy responses. This paper presents a simple methodology of ex ante impact assessment, focusing specifically on how the...