Business Commons^™

Ownership Control And Debt Maturity Structure: Evidence From China, Wenjuan Ruan, Grant Cullen, Shiguang Ma, Erwei Xiang

Faculty of Business - Papers (Archive)

Purpose - The authors examine the debt maturity structure of Chinese listed companies during the period when bond market was under-developed and the majority of commercial banks were owned by the state. The purpose of this paper is to answer why and how the different ownership control types impact the firms' preference and accessibility to either long- or short-term debts.

Design/methodology/approach - The univariate analysis was used to test the differences of debt maturity choices for firms grouped by ownership control types, profitability and institutional development. Then, logit regression and ordinary least squares regression were applied to examine the determinants …

Does Banks' Dual Holding Affect Bank Lending And Firms' Investment Decisions? Evidence From China, Xiaofei Pan, Gary Tian

Faculty of Business - Papers (Archive)

This study investigates the effect of banks' dual holding on bank lending and firms' investment decisions using a sample of listed firms in China. We find that dual holding leads to easier access to bank loans, a result that is more pronounced for non-state-owned enterprises (non-SOEs) than SOEs. We also find that dual holding distorts banks' lending decisions and harms the investment efficiency for SOEs, while resulting in optimal lending decisions and enhanced investment efficiency for non-SOEs. For non-SOEs, further analysis suggests that optimal lending decisions and efficient investment can be achieved for firms with higher ownership concentration, and firms …

Housing Property Rights And Subjective Wellbeing In Urban China, Zhiming Cheng, Stephen P. King, Russell Smyth, Haining Wang

Faculty of Business - Papers (Archive)

This study explores the relationship between home ownership and subjective wellbeing in urban China. We first present a theoretical model examining the relationship between housing property rights and subjective wellbeing in China. We then test the predictions of the theoretical model using a nationally representative dataset. We find that not only home ownership, but the property rights one acquires and the source of those property rights matters for subjective wellbeing. Moreover, not only whether one has a home loan, but the type of home loan one has matters for subjective wellbeing.

Ideology Diffusion And The Role Of Accounting: A Gramscian Approach To Understanding China's Transition From 1949 To 1957, Lina Xu, Corinne Cortese, Eagle Zhang

Faculty of Business - Papers (Archive)

Using Gramsci's concept of hegemony, the aim of this article is to explore the role of ideology diffusion in creating and maintaining Mao's political hegemony during the period 1949 to 1957, and to consider how accounting practices were reflected in this period of transition in China. In particular, we provide an understanding of how accounting systems have changed under the influence of various political ideologies in China, being the New Democracy and the socialist ideology adopted from the Soviet Union, by considering the relationships and struggles between organic and traditional intellectuals that Gramsci has theorized. We find that the diffusion …

Stakeholders' Power, Corporate Characteristics, And Social And Environmental Disclosure: Evidence From China, Yingjun Lu, Indra Abeysekera

Faculty of Business - Papers (Archive)

This paper investigates the influences of stakeholders' power and corporate characteristics on social and environmental disclosure practices of socially responsible Chinese listed firms identified by a social responsibility ranking list. A stakeholder-driven, three-dimensional social and environmental disclosure index including disclosure quantity, disclosure type quality and disclosure item quality, is constructed to assess sample firms' social and environmental disclosures in their two public reports: annual reports and corporate social responsibility reports. Findings indicate that corporate social and environmental disclosures have significant and positive associations with firm size, profitability, and industry classification. The roles of various powerful stakeholders in influencing corporate social …