This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a … complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based …

This is an empirical study that examines the underpricing and aftermarket long-term performance of IPOs in China and … China. The findings demonstrate that initial IPO returns influence the market value long-term and that the ownership …

This paper documents recent structural changes in China’s corporate landscape, based on company-level data, providing a … complementary perspective to that of official Chinese statistics. We classify China’s largest companies by revenue since 2004 (based …

, three, and five-year investment horizons. …

, three, and five-year investment horizons. …

type and firm-level capital allocations as captured by the sensitivity of investment expenditure to investment … weakens (strengthens) investment-Q sensitivity, thereby increasing investment inefficiency (efficiency). Moreover, we find … that the relation between foreign ownership and investment efficiency is stronger when governments relinquish control and …

In this paper, we investigate the innovative efficiency of SOEs in China. Innovative efficiency refers to output of …

2395 listed companies in China from 2007 to 2020, we examine the investment efficiency of this ownership practice on … microcorporate investment behavior. The estimates indicate that common institutional ownership has a significant positive … relationship with corporate investment efficiency by reducing overinvestment. Further institutional heterogeneity analysis reveals …

We investigate the relation between state ownership and corporate investment. In a matched panel of 624 European firms …, state ownership curtails firms' responsiveness to investment opportunities. With increasing government ownership, investment … control over domestic banks. State ownership negatively affects investment levels but mitigates reductions during the …