In this study, the extant literature relating to the link between the ownership structure of Mainland PRC-incorporated enterprises and firm performance, is extended and updated by considering SOEs with substantial 'foreign' (i.e., non-Mainland) ownership. This analysis is carried out for the...

Many empirical "anomalies" are actually consistent with the single beta capital asset pricing model if the empiricist utilizes an equity-only proxy for the true market portfolio. Equity betas estimated against this particular inefficient proxy will be understated, with the error increasing with...