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Full-Text Articles in Business
Financial Reporting Quality Of Chinese Reverse Merger Firms: The Reverse Merger Effect Or The China Effect?, Kun-Chih Chen, Qiang Cheng, Ying Chou Lin, Yu-Chen Lin, Xing Xiao
Financial Reporting Quality Of Chinese Reverse Merger Firms: The Reverse Merger Effect Or The China Effect?, Kun-Chih Chen, Qiang Cheng, Ying Chou Lin, Yu-Chen Lin, Xing Xiao
Research Collection School Of Accountancy
In this paper, we examine why Chinese reverse merger (RM) firms have lower financial reporting quality. We find that while U.S. RM firms have similar financial reporting quality as matched U.S. IPO firms, Chinese RM firms exhibit lower financial reporting quality than Chinese ADR firms. We further find that Chinese RM firms exhibit lower financial reporting quality than U.S. RM firms. These results indicate that the use of RM process is associated with poor financial reporting quality only in firms from China, where the legal enforcement is weaker than U.S. In addition, we find that compared to Chinese ADR firms, …
Contrasting Perspectives On China's Rare Earths Policies: Reframing The Debate Through A Stakeholder Lens, Leslie Hayes-Labruto, Simon J.D. Schillebeeckx, Mark Workman, Nilay Shah
Contrasting Perspectives On China's Rare Earths Policies: Reframing The Debate Through A Stakeholder Lens, Leslie Hayes-Labruto, Simon J.D. Schillebeeckx, Mark Workman, Nilay Shah
Research Collection Lee Kong Chian School Of Business
This article critically compares China's rare earth policy with perspectives upheld in the rest of the world (ROW). We introduce rare earth elements and their importance for energy and present how China and the ROW are framing the policy debate. We find strongly dissonant views with regards to motives for foreign direct investment, China's two-tiered pricing structure and its questionable innovation potential. Using the metaphor of "China Inc.", we compare the Chinese government to a socially responsible corporation that aims to balance the needs of its internal stakeholders with the demands from a resource-dependent world. We find that China's internal …
From The Outside In: China’S Dragons Are Here, Singapore Management University
From The Outside In: China’S Dragons Are Here, Singapore Management University
Perspectives@SMU
Like a blockbuster movie 20 years in the making, China’s dragons have evolved to push the boundaries of global competition. Accelerated innovation is the new frontier of global competition and it’s a space where China’s go-global companies are excelling.
Stock Liquidity And The Pricing Of Earnings: A Comparison Of China’S Floating And Non-Floating Shares, Lou Fang, Jiwei Wang, Hongqi Yuan
Stock Liquidity And The Pricing Of Earnings: A Comparison Of China’S Floating And Non-Floating Shares, Lou Fang, Jiwei Wang, Hongqi Yuan
Research Collection School Of Accountancy
The reform to convert non-floating shares to floating in China provides a setting in which shares are subject to different liquidity constraint. We show that the severity of this constraint is inversely related to the extent to which earnings information is reflected in the share prices. Specifically, before the reform, the transfer prices of non-floating shares reflect much less earnings information than the market prices of floating shares. After the reform, however, both types of transfer reflect more earnings information, although the weights are still less than that found in the market prices. Thus, China's unique setting shows that share …
We Are The Champions, Nirmalya Kumar, Jan-Benedict E. M. Steenkamp
We Are The Champions, Nirmalya Kumar, Jan-Benedict E. M. Steenkamp
Research Collection Lee Kong Chian School Of Business
From China Mobile to Coal India, state-supported firms are on the march. The authors map out the route from being a national champion to becoming a global brand.
The Transformation Of Urban Vegetable Retail In China: Wet Markets, Supermarkets, And Informal Markets In Shanghai, Qian Forrest Zhang, Zi Pan
The Transformation Of Urban Vegetable Retail In China: Wet Markets, Supermarkets, And Informal Markets In Shanghai, Qian Forrest Zhang, Zi Pan
Research Collection School of Social Sciences
The state-monopolised system of vegetable retail in socialist urban China has transformed into a market-based system run by profit-driven actors. Publicly owned wet markets not only declined in number after the state relegated its construction to market forces, but were also thoroughly privatised, becoming venues of capital accumulation for the market operators now controlling these properties. Self-employed migrant families replaced salaried state employees in the labour force. Governments’ increased control over urban public space reduced the room for informal markets, exacerbating the scarcity of vegetable retail space. Fragmentation in the production and wholesale systems restricted modern supermarkets’ ability to establish …
Social Capital, Informal Governance, And Post-Ipo Firm Performance: A Study Of Chinese Entrepreneurial Firms, Jerry X. Cao, Yuan Ding, Hua Zhang
Social Capital, Informal Governance, And Post-Ipo Firm Performance: A Study Of Chinese Entrepreneurial Firms, Jerry X. Cao, Yuan Ding, Hua Zhang
Research Collection Lee Kong Chian School Of Business
This paper explores the links between entrepreneurs' social capital and post-IPO firm performance in China's unique capital market and regulatory setting. Using hand-collected data on entrepreneurs' political connections and firm financial information, we construct original measures for various types of social capital and examine their roles in determining the accounting and financial performance of entrepreneurial firms after an IPO. On one hand, firm accounting performance is enhanced by entrepreneurs' bridging social capital, such as political connections or a willingness to share power with external investors. On the other hand, bonding social capital such as intra-group related party transactions causes performance …