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Articles 1 - 11 of 11
Full-Text Articles in Business
Corporate Actions And The Manipulation Of Retail Investors In China: An Analysis Of Stock Splits, Sheridan Titman, Chi Shen Wei, Bin Zhao
Corporate Actions And The Manipulation Of Retail Investors In China: An Analysis Of Stock Splits, Sheridan Titman, Chi Shen Wei, Bin Zhao
Research Collection Lee Kong Chian School Of Business
We identify a group of “suspicious” firms that use stock splits, perhaps along with other activities, to artificially inflate their share prices. Following the initiation of suspicious splits, share prices temporarily increase, and subsequently decline below their presplit levels. Using account level data from the Shanghai Stock Exchange, we find that small retail investors acquire shares in firms initiating suspicious splits, while more sophisticated investors accumulate positions before suspicious split announcements and sell in the postsplit period. We also find that insiders sell large blocks of shares and obtain loans using company stock as collateral around the initiation of suspicious …
Property In Whose Name? Intrahousehold Bargaining Over Homeownership In China, Jia Yu, Cheng Cheng
Property In Whose Name? Intrahousehold Bargaining Over Homeownership In China, Jia Yu, Cheng Cheng
Research Collection School of Social Sciences
Previous research typically examined homeownership inequality across individuals or households, overlooking the intrahousehold allocation of homeownership. Using couple-level data of the 2016 China Family Panel Studies, our study addresses the gap by examining the bargaining over homeownership between husbands and wives in China. Descriptive results reveal a large gender gap in homeownership: only about one-quarter of couples listed the wife as an owner on the Housing Ownership Certificate, whereas about 92% listed the husband. The gender gap in ownership, however, has narrowed among couples married after 2000. Multivariate analyses show that economic autonomy, relative resources, housing purchase conditions, and modernization …
Skbi Big 5 Survey 2022 August, Singapore Management University
Skbi Big 5 Survey 2022 August, Singapore Management University
Sim Kee Boon Institute for Financial Economics
The latest survey results on the largest five economies (Big5) were revised markedly relative to the prior release (pre-Russia-Ukraine conflict), generally indicating weaker growth and higher inflation coupled with incremental ambiguity on the policy front.
China: The Next Big Market For Soft-Branded Hotels?, Elisa Ka-Yan Chan
China: The Next Big Market For Soft-Branded Hotels?, Elisa Ka-Yan Chan
Perspectives@SMU
A wave of deal-making in China’s hotel investment sector is expected to encourage more independent hotels to rebrand as chain affiliates
Is Guanxi Still Everything When Doing Business In China?, Singapore Management University
Is Guanxi Still Everything When Doing Business In China?, Singapore Management University
Perspectives@SMU
Research finds that traditional guanxi-style connection-building is no longer the main key to success when doing business in China, and a new generation of Chinese entrepreneurs form business ties based on reputation and capabilities
Estimating Financial Information Asymmetry In Real Estate Transactions In China: An Application Of Two-Tier Frontier Model, Ganlin Pu, Ying Zhang, Li-Chen Chou
Estimating Financial Information Asymmetry In Real Estate Transactions In China: An Application Of Two-Tier Frontier Model, Ganlin Pu, Ying Zhang, Li-Chen Chou
Research Collection School Of Computing and Information Systems
This study applies the two-tier stochastic frontier model to estimate the distribution of housing transaction information in Hangzhou, Wenzhou, Ningbo, and Jinhua (four cities in Zhejiang Province, China) during the year 2018, to analyze the difference in the price information acquired by the buyers and sellers in the transaction, and the effect of information asymmetry on the transaction price. The empirical results show that in each city, during the housing transaction process, the supplier has more complete information about house prices than consumers, and can therefore implement price discrimination strategies in setting service prices. Due to the disadvantage in acquired …
Sandwiched Between A Rock And A Hard Place?, Thomas Lam, David Fernandez
Sandwiched Between A Rock And A Hard Place?, Thomas Lam, David Fernandez
Sim Kee Boon Institute for Financial Economics
The policy gap between US and China is likely to be widening further, potentially raising and unevenly distributing the risks of negative spillovers for Asia and the rest of the world.
Skbi Big 5 Survey 2022 February, Singapore Management University
Skbi Big 5 Survey 2022 February, Singapore Management University
Sim Kee Boon Institute for Financial Economics
The latest survey results on the largest five economies (Big5), based on submissions prior to the ongoing Russia-Ukraine conflict, imply a more intricate growth, inflation and policy dynamic.
Space Tourism By 2024 A Growing Possibility In China, Singapore Management University
Space Tourism By 2024 A Growing Possibility In China, Singapore Management University
Perspectives@SMU
Developments this year have turbocharged the race to be the first to launch paying customers into space
Postmaterialism And Corporate Tax Avoidance, Yujia Cui, Jiwei Wang, Kangtao Ye
Postmaterialism And Corporate Tax Avoidance, Yujia Cui, Jiwei Wang, Kangtao Ye
Research Collection School Of Accountancy
This paper explores how postmaterialism culture influences corporate tax avoidance behavior. Using a proprietary dataset of China tax audits, we find that firms owned by investors from countries with higher postmaterialism values are less likely to engage in tax avoidance behavior in China. In addition, we find some evidence that the negative association between postmaterialism and tax avoidance is more pronounced when tax enforcement is stronger, indicating that national culture and formal institutions act as complements. To check the external validity of our main results, we further use a cross-country sample from 21 countries over 22 years. The evidence from …
Producing Industrial Pigs In Southwestern China: The Rise Of Contract Farming As A Coevolutionary Process, Forrest Qian Zhang, Hongping Zeng
Producing Industrial Pigs In Southwestern China: The Rise Of Contract Farming As A Coevolutionary Process, Forrest Qian Zhang, Hongping Zeng
Research Collection School of Social Sciences
The literature on contract farming (CF) has to date focused on how outside capital uses CF to vertically integrate non-capitalist producers into agro-industrial value chains. We argue that in places where multiple dynamics of capitalist growth co-exist, CF relationships can also emerge between different types of capitalist producers that are already in capitalist production using other organizational forms. In this situation, the well-studied drivers that fuel the spread of CF become less consequential; the emergence of CF is instead more contingent on the complex interactions between producers and the specific conditions and events in the local environment. We conceptualize the …