IDEAS home Printed from https://ideas.repec.org/h/nbr/nberch/12072.html
   My bibliography  Save this book chapter

Assessing China's Top-Down Securities Markets

In: Capitalizing China

Author

Listed:
  • William T. Allen
  • Han Shen

Abstract

No abstract is available for this item.

Suggested Citation

  • William T. Allen & Han Shen, 2012. "Assessing China's Top-Down Securities Markets," NBER Chapters, in: Capitalizing China, pages 149-195, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:12072
    as

    Download full text from publisher

    File URL: http://www.nber.org/chapters/c12072.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bebchuk, Lucian A. & Cohen, Alma, 2005. "The costs of entrenched boards," Journal of Financial Economics, Elsevier, vol. 78(2), pages 409-433, November.
    2. Chen, Gongmeng & Firth, Michael & Gao, Daniel N. & Rui, Oliver M., 2005. "Is China's securities regulatory agency a toothless tiger? Evidence from enforcement actions," Journal of Accounting and Public Policy, Elsevier, vol. 24(6), pages 451-488.
    3. Allen, Franklin & Qian, Jun & Qian, Meijun, 2005. "Law, finance, and economic growth in China," Journal of Financial Economics, Elsevier, vol. 77(1), pages 57-116, July.
    4. La Porta, Rafael & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," Journal of Finance, American Finance Association, vol. 52(3), pages 1131-1150, July.
    5. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December.
    6. Joel Hellman & Mark Schankerman, 2000. "Intervention, Corruption and Capture: The Nexus between Enterprises and the State," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(3), pages 545-576, November.
    7. Agrawal, Ashwini K., 2009. "The Impact of Investor Protection Law on Corporate Policy: Evidence from the Blue Sky Laws," MPRA Paper 16351, University Library of Munich, Germany.
    8. Coffee, John C., Jr., 2007. "Law and the Market: The Impact of Enforcement," Working Papers 07-3, University of Pennsylvania, Wharton School, Weiss Center.
    9. Sonia M. L. Wong & Sonja Opper & Ruyin Hu, 2004. "Shareholding structure, depoliticization and firm performance," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(1), pages 29-66, March.
    10. Robert W. Fogel, 2006. "Why China is Likely to Achieve its Growth Objectives," NBER Working Papers 12122, National Bureau of Economic Research, Inc.
    11. Huang,Yasheng, 2008. "Capitalism with Chinese Characteristics," Cambridge Books, Cambridge University Press, number 9780521898102.
    12. Aharony, J & Lee, CWJ & Wong, TJ, 2000. "Financial packaging of IPO firms in China," Journal of Accounting Research, Wiley Blackwell, vol. 38(1), pages 103-126.
    13. Shleifer, Andrei & Vishny, Robert W, 1986. "Large Shareholders and Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 461-488, June.
    14. Zhang, Weiying & Cooper, W.W. & Deng, Honghui & Parker, Barnett R. & Ruefli, Timothy W., 2010. "Entrepreneurial talent and economic development in China," Socio-Economic Planning Sciences, Elsevier, vol. 44(4), pages 178-192, December.
    15. Chen, Gongmeng & Firth, Michael & Xu, Liping, 2009. "Does the type of ownership control matter? Evidence from China's listed companies," Journal of Banking & Finance, Elsevier, vol. 33(1), pages 171-181, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:zbw:bofitp:2018_001 is not listed on IDEAS
    2. Glick, Reuven & Hutchison, Michael, 2013. "China's financial linkages with Asia and the global financial crisis," Journal of International Money and Finance, Elsevier, vol. 39(C), pages 186-206.
    3. Song, Zheng (Michael) & Xiong, Wei, 2018. "Risks in China’s financial system," BOFIT Discussion Papers 1/2018, Bank of Finland, Institute for Economies in Transition.
    4. Pessarossi, Pierre & Weill, Laurent, 2013. "Choice of corporate debt in China: The role of state ownership," China Economic Review, Elsevier, vol. 26(C), pages 1-16.
    5. Morck, Randall & Yeung, Bernard, 2016. "China in Asia," China Economic Review, Elsevier, vol. 40(C), pages 297-308.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. William T. Allen & Han Shen, 2011. "Assessing China's Top-Down Securities Markets," NBER Working Papers 16713, National Bureau of Economic Research, Inc.
    2. Kuo, Jing-Ming & Ning, Lutao & Song, Xiaoqi, 2014. "The Real and Accrual-based Earnings Management Behaviors: Evidence from the Split Share Structure Reform in China," The International Journal of Accounting, Elsevier, vol. 49(1), pages 101-136.
    3. Jiandong Chen & Douglas Cumming & Wenxuan Hou & Edward Lee, 2016. "CEO Accountability for Corporate Fraud: Evidence from the Split Share Structure Reform in China," Journal of Business Ethics, Springer, vol. 138(4), pages 787-806, November.
    4. Greene, William H. & Hornstein, Abigail S. & White, Lawrence J., 2009. "Multinationals do it better: Evidence on the efficiency of corporations' capital budgeting," Journal of Empirical Finance, Elsevier, vol. 16(5), pages 703-720, December.
    5. Piotroski, Joseph D. & Zhang, Tianyu, 2014. "Politicians and the IPO decision: The impact of impending political promotions on IPO activity in China," Journal of Financial Economics, Elsevier, vol. 111(1), pages 111-136.
    6. Amon Chizema & Wei Jiang & Jing-Ming Kuo & Xiaoqi Song, 2020. "Mutual funds, tunneling and firm performance: evidence from China," Review of Quantitative Finance and Accounting, Springer, vol. 55(1), pages 355-387, July.
    7. Fuxiu Jiang & Kenneth A Kim, 2020. "Corporate Governance in China: A Survey [The role of boards of directors in corporate governance: a conceptual framework and survey]," Review of Finance, European Finance Association, vol. 24(4), pages 733-772.
    8. Lucian A. Bebchuk & Michael S. Weisbach, 2012. "The State of Corporate Governance Research," Springer Books, in: Sabri Boubaker & Bang Dang Nguyen & Duc Khuong Nguyen (ed.), Corporate Governance, edition 127, pages 325-346, Springer.
    9. Jiafu An & Seth Armitage & Wenxuan Hou & Xianda Liu, 2020. "Do checks on bureaucrats improve firm value? Evidence from a natural experiment," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(5), pages 4821-4844, December.
    10. Bai, Chong-En & Liu, Qiao & Lu, Joe & Song, Frank M. & Zhang, Junxi, 2004. "Corporate governance and market valuation in China," Journal of Comparative Economics, Elsevier, vol. 32(4), pages 599-616, December.
    11. Ng, Alex & Yuce, Ayse & Chen, Eason, 2009. "Determinants of state equity ownership, and its effect on value/performance: China's privatized firms," Pacific-Basin Finance Journal, Elsevier, vol. 17(4), pages 413-443, September.
    12. Zhong, Ruohan & Li, Yanxi & Wang, Yun, 2021. "Multiple large shareholders, control contests, and forced CEO turnover," Emerging Markets Review, Elsevier, vol. 48(C).
    13. Megginson, William L. & Ullah, Barkat & Wei, Zuobao, 2014. "State ownership, soft-budget constraints, and cash holdings: Evidence from China’s privatized firms," Journal of Banking & Finance, Elsevier, vol. 48(C), pages 276-291.
    14. Victoria Krivogorsky & Gary Grudnitski, 2010. "Country-specific institutional effects on ownership: concentration and performance of continental European firms," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 14(2), pages 167-193, May.
    15. Du, Julan & Xu, Chenggang, 2009. "Which Firms went Public in China? A Study of Financial Market Regulation," World Development, Elsevier, vol. 37(4), pages 812-824, April.
    16. Lu, Yi & Png, Ivan P.L. & Tao, Zhigang, 2013. "Do institutions not matter in China? Evidence from manufacturing enterprises," Journal of Comparative Economics, Elsevier, vol. 41(1), pages 74-90.
    17. Knack, Steve & Xu, Lixin Colin, 2017. "Unbundling institutions for external finance: Worldwide firm-level evidence," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 215-232.
    18. Guariglia, Alessandra & Poncet, Sandra, 2008. "Could financial distortions be no impediment to economic growth after all? Evidence from China," Journal of Comparative Economics, Elsevier, vol. 36(4), pages 633-657, December.
    19. Massimiliano Affinito, 2011. "Convergence clubs, the euro-area rank and the relationship between banking and real convergence," Temi di discussione (Economic working papers) 809, Bank of Italy, Economic Research and International Relations Area.
    20. Ding, Mingfa, 2014. "Political Connections and Stock Liquidity: Political Network, Hierarchy and Intervention," Knut Wicksell Working Paper Series 2014/7, Lund University, Knut Wicksell Centre for Financial Studies.

    More about this item

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nbr:nberch:12072. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/nberrus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.