The financial management tools and techniques used by financial officers to make investment decisions have emanated from North America. However, due to differences in business environment some of the techniques may not be suitable in New Zealand (NZ) without modification. The purpose of this...

This paper explores the effect of judicial quality on corporate innovation by taking advantage of the staggered establishment of Circuit Courts in China. We find that the introduction of Circuit Courts increases corporate innovation, particularly for central SOEs and private firms. Channel...

Using the geographic location data of 218,554 commercial bank branches in China, we find that an increasing number of bank branches in the vicinity of enterprises, namely bank competition, leads to higher corporate employment, particularly for non-SOEs. Channel analyses reveal that better access...

We examine the stock dividend puzzle in China during 1992-2008 by analysing the market reaction, who pays more or solely stock dividends compared to cash dividends and why. In general, stock dividends send a positive market signal which is stronger for larger stock dividends and simultaneous...

Purpose – The purpose of this paper is to investigate how the announcement and implementation of short sales and margin trading regulation affects Chinese stock returns and trading volume. On 31 March 2010, the Chinese regulators launched a pilot programme, allowing short sales and margin...