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In China, a large proportion of companies are state owned, and this factor is a likely important driver of assets … & MacBeth (1973) regressions, we show that the SOE factor is critical in explaining cross section returns in China's domestic … pricing mechanism in China. While accounting for the SOE impact improves explanatory power of the asset pricing model, further …
Persistent link: https://www.econbiz.de/10012953152
We study the consequences of CEO turnover announcements on the stock prices of firms in China, where most listed firms …
Persistent link: https://www.econbiz.de/10013065392
This paper contrasts the stock liquidity and stock returns between Chinese state owned enterprises (SOEs) and privately owned enterprises (POEs) before and after the split-share structure reform initiated in 2005. This reform converted a huge volume of non-tradable shares into tradable shares...
Persistent link: https://www.econbiz.de/10012923728
firm value, using data covering ESG performance of the entire cross-section of China’s stock markets. Taking the COVID-19 …
Persistent link: https://www.econbiz.de/10014238988
We investigate the relationship between private firms’ disclosures and the demand for the equity of their publicly traded peers. Using data on the global movement of public equity, we find that a one standard deviation increase in private firm disclosure transparency – proxied by the number...
Persistent link: https://www.econbiz.de/10013222302
We investigate the relationship between private firms’ disclosures and the demand for the equity of their publicly traded peers. Using data on the global movement of public equity, we find that a one standard deviation increase in private firm disclosure transparency – proxied by the number...
Persistent link: https://www.econbiz.de/10013230835
studies the evolving effect of corporate ESG performance on the stock returns in China’s stock markets. Utilizing the Paris … Agreement and China’s President Xi’s pledge to achieve carbon neutrality by 2060 as ESG shocks, we find that firms with lower …
Persistent link: https://www.econbiz.de/10014239499
The Chief Executive Officer (CEO) is pivotal in firm governance and is tasked with policy implementation and maximizing shareholder benefit. However, predicting CEO behaviour remains challenging, especially when considering CEO power (CEOP). Hence, this study explores the link between CEOP and...
Persistent link: https://www.econbiz.de/10014526511
Persistent link: https://www.econbiz.de/10001369410
Persistent link: https://www.econbiz.de/10002031504