This study examines the impact of digital transformation on the stock price informativeness and the underlying mechanisms in Chinese equity market. Based on the textual analysis method, we find that the adoption of digital technologies can significantly lower the stock price synchronicity....

This study examines the impact of stock market liberalization on corporate investment and its underlying mechanisms in the context of the Mainland–Hong Kong Stock Connect programs in China. The difference-in-differences estimation suggests that stock market liberalization improves corporate...

The Chinese stock markets provide a unique experimental setting in which to examine how cash and stock dividends convey value relevant information about future performance and future cash dividends. Utilising market valuation equations based on Ohlson (1995), as well as prediction models, and...

Unusually high accounting accruals are observable to sophisticated investors, who must then decide whether the accruals represent managerial manipulation of reported earnings or an indication of future firm performance. We hypothesise that both cash and stock dividends contain information useful...