1 - 6 of 6 articles
The supervision of listed firms plays an important role in improving the quality of listed firms and the efficiency of resource allocation in the capital market. We study the effectiveness and realisation mechanisms of the indirect deterrence effects of regulatory punishments from the...
We examine whether and how the failure in performance commitment by an acquiree affects the acquirers’ recognition of goodwill impairment. Based on a sample of A-share-listed firms during 2008–2016, we document the following evidence. First, both the likelihood and amounts of goodwill impairment...
This paper investigates whether top executives’ dependence on social connections has an impact on the information environment of listed companies. Specifically, this paper explores the role of school ties between firms’ and suppliers’ top executives on management earnings forecasts, an important...
When governments opt for financial repression policies, credit mismatch becomes more prevalent. This may lead some non-financial firms with excessive loans to financialize their operations and undertake shadow banking activities, that is, entrusted loans. Using all listed Chinese firm's...
Using the high-speed rail opening of each city in China as a natural experiment, we apply the difference-in-differences model to investigate how the transportation infrastructure in a region affects the behaviour of local company going public. We find that after high-speed rail runs through a...
Current theories about cost stickiness explain the phenomenon from the perspectives of adjustment cost, optimistic management expectations, and agency costs. However, the economic implications implied by different theories are different. We find that, in general, cost stickiness will reduce firm...
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