This research examines reform in China. We argue the reform will lead the socialist-market-economy into capitalism. Reform offers opportunities to alter ownership of equity and frees management from control of the communist party. This research discusses the relation between market liquidity,...

This study is based on investors' viewpoint and adopts the accruals quality model [1] as proxy variable of earning quality. By applying the process capability concept in engineering application, we establish capability index of basis accrual quality and transform it into the investment risk...