Business Commons^™

Two Essays On Shareholder Base, Firm Behavior, And Firm Value, Yi Jian

Finance Theses & Dissertations

Most companies spend significant time and attention to managing their shareholder base out of the belief that significant stock market benefits can be reaped if they can identify and attract the right shareholders. Consistent with the opinion of practitioners, many financial economists suggest that the shareholder base is an important determinant of firm value and corporate policies (Lins and Warnock 2004; Brav, Graham, Harvey, and Michaley 2005; Bodnaruk and Ostberg 2013). Despite the importance of the shareholder base, research on the topic has been scant. What’s more, previous studies have reported conflicting results regarding the effect of the shareholder base …

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. …

Two Essays On Lead-Lag Patterns Between Trading Volume And Stock Return In China Stock Markets, Xiaotian Zhu

Theses and Dissertations in Business Administration

This dissertation systematically investigate the lead-lag relations between the trading volume and stock return patterns in China A share and B share markets through two streams of behavioral postulations. In the first part, we summarize all the potential lead-lag patterns between trading volume and stock returns and link them to the corresponding behavioral explanations. In particular, Lee and Swaminathan's (2000) Momentum Life Cycle theory best explains the strong negative relations between lagged trading volume and subsequent return in China A share market. The strong positive relations between lagged market return and subsequent trading volume found in both China's B share …

The Market And Ethics: The Case Of The 1994 Decision By The Clinton Administration To Delink China's Human Rights Record From Most-Favored-Nation Status, Susan C. Morris

Graduate Program in International Studies Theses & Dissertations

Amid the globalization of markets and the interdependence of states, human rights violations throughout the world still persist. The purpose of this study is to investigate the relationship between the economic interdependence of nations and the moral responsibilities of nations by examining the case of the 1994 decision by the Clinton administration to delink China's human rights practices from most-favored-nation status.

The annual 1997 Freedom House world survey of human rights rated China at its lowest point and quoted that “the regime continues to have one of the worst human rights records in the world.”1 Yet despite China's ongoing human …

Relative Gains Problem And Case Studies Of Economic Cooperation In East Asia, Ping Deng

Graduate Program in International Studies Theses & Dissertations

Relative gains problem basically means unequal cooperative payoffs disproportionately favoring partners. With the relative gains problem widely accepted as a serious impediment to international cooperation, some scholars have theoretically argued or modeled several conditions that are most likely to foster a state's sensitivity to relative gains and thus substantially affect the prospects for cooperation. But little empirical work has been done to date. The central objective of this dissertation is to test whether those theoretical propositions can be supported by empirical evidence. For this purpose, we have deducted three hypotheses: (1) If a state faces military threat and zero-sum political …

Cultural Transposition: Exploring Meanings Of And Strategies For Cross-Cultural Transfer Of Organizational Practices, Yongming Tang

Engineering Management & Systems Engineering Theses & Dissertations

The research objective is to study the phenomenon of transferring organizational practices which are conceptualized in one culture to another different culture. The purpose of the study is (1) to understand how cultural values and beliefs are manifested in behavior; (2) to explore how the Western organizational practices are interpreted and assimilated into an organization in an Eastern culture; and (3) to explore strategies for the fit between local cultural orientations and imported organizational practices. A qualitative, interpretive, and reflexive research methodology was developed to conduct this study.

The study was conducted in two phases. The first phase was designed …