Business Commons^™

Three Essays On Cross-Listing, Liu Wang

Theses and Dissertations in Business Administration

This dissertation examines the role of cross-listing in shaping corporate earnings quality, stock price informativeness, and firm valuation, as well as its impact on a listing firm's home country information asymmetry and stock misvaluation.

The first essay addresses the information asymmetry between Chinese local A-share and foreign B-share markets and its impact on the B-share discount puzzle. In contrast with the widespread belief that domestic investors are better informed than foreign investors, this study indicates that foreign investors actually possess more value-relevant, firm-specific information in an emerging market such as China, where information transparency and investor protection are relatively weak. …

East Meets West? Determinants Of Chinese Firms' Response To Pressures Towards International Corporate Governance Standards, Zhengjun Wang

LSU Doctoral Dissertations

The diffusion of corporate governance standards globally has received special attention from researchers in an increasingly globalized economy. This topic is particularly significant in emerging economies as they encounter both economic pressures to adopt international governance standards and pressures to conform to local institutional resistance to change in governance. Drawing on multi-theoretical perspectives including agency theory, resource dependence theory and institutional theory, this study examines the role of CEO and board characteristics, ownership structure, prior firm performance, and firm’s selection of accounting standards and auditing firms in determining Chinese publicly listed firms’ responses to pressures to adopt international governance standards. …

Enhancing Green Tax Measures In Hong Kong : A Means Of Addressing The City's Environmental Problems, Yuzhu Lu

Theses & Dissertations

Nowadays, pressures on the environment are increasing around the world. In particular, Hong Kong, a compact city with a population of nearly seven million, one which has undergone remarkable economic growth over the past few decades, has developed severe environmental problems. It also has deficiencies in its taxation system: a small tax base, for example. In today’s world, “green” taxes have been accepted and applied by more and more countries, especially those in the OECD. However, Hong Kong still has not adequately used the tax tool as an integral part of the government’s anti-pollution strategy. Accordingly, the major objective of …