Cross-listing, corporate governance and operating performance - Evidence from the chinese market

Advances in Business and Management Forecasting

Volumn 5, Issue , 2008, Pages 19-46

  Chen, Shaw ^a   Lin, Bing Xuan ^a   Wang, Yaping ^b   Wu, Liansheng ^b  

^a UNIVERSITY OF RHODE ISLAND   (United States)

^b Peking University   (China)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 77954297369     PISSN: 14774070     EISSN: None     Source Type: Book Series    
DOI: 10.1016/S1477-4070(07)00202-4     Document Type: Article

References (45)

1. Agrawal, A., & Knoeber, C. R. (1996). Firm performance and mechanisms to control agency problems between managers and shareholders. Journal of Financial and Quantitative Analysis, 31(3), 377-397.
2. Baek, J., Kang, J., & Park, K. S. (2004). Corporate governance and firm value: Evidence from the Korean financial crisis. Journal of Financial Economics, 71(2), 265-313.
3. Bai, C., Li, D. D., Tao, Z., & Wang, Y. (2000). A multitask theory of state enterprise reform. Journal of Comparative Economics, 28(4), 716-738.
4. Bai, C., Liu, Q., Lu, J., Song, F. M., & Zhang, J. (2004). Corporate governance and market valuation in China. Journal of Comparative Economics, 32(4), 599-616.
5. Benos, E., & Weisbach, M. (2003). Privates benefits and cross-listing in the United States. Working Paper. National Bureau of Economic Research, Cambridge, MA.
6. Black, B. (2000). The core institutions that support strong securities markets. Business Lawyer, 55(4), 1565-1607.
7. Chen, S. K., Chen, X., Lin, B., & Zhong, R. (2005). The impact of government regulation and ownership on the performance of securities companies: Evidence from China. Global Finance Journal, 16(2), 113-124.
8. Coffee, J. C. (1999). The future as history: The prospects for global convergence and its implications. Northwestern University Law Review, 93(2), 641-708.
9. Cole, R. A., & Mehran, H. (1998). The effect of changes in ownership structure on performance: Evidence from the thrift industry. Journal of Financial Economics, 50(3), 291-317.
10. DeAngelo, E. (1981). Auditor size and audit quality. Journal of Accounting and Economics, 3(3), 183-199.
11. Doidge, C. (2004). U.S. cross-listing and the private benefits of control: Evidence from dualclass firms. Journal of Financial Economics, 72(2), 519-553.
12. Doidge, C., Karolyi, G. A., & Stulz, R. (2004). Why are foreign firms listed in the U.S. worth more? Journal of Financial Economics, 71(2), 205-238.
13. Dye, R. (1993). Auditing standards, legal liability and auditor wealth. Journal of political Economy, 101(5), 887-914.
14. Fan, J. P. H., & Wong, T. J. (2005). Do external auditors perform a corporate governance role in emerging markets? Evidence from East Asia. Journal of Accounting Research, 43(1), 35-72.
15. Fanto, J. (1996). The absence of cross-cultural communication: SEC mandatory disclosure and foreign corporate governance. Journal of International Law and Business, 17(1), 119-207.
16. Gompers, P. A., Ishii, J. L., & Metrick, A. (2003). Corporate governance and equity prices. The Quarterly Journal of Economics, 118(1), 107-155.
17. Groves, T., Hong, Y., McMillan, J., & Naughton, B. (1994). Autonomy and incentives in Chinese state enterprises. The Quarterly Journal of Economics, 109(1), 183-209.
18. Johnson, S., Boone, P., Breach, A., & Friedman, E. (2000). Corporate governance in the Asian financial crisis: 1997-1998. Journal of Financial Economics, 58(1/2), 141-186.
19. Klapper, L. F., & Love, I. (2004). Corporate governance, investor protection, and performance in emerging markets. Journal of Corporate Finance, 10(5), 703-728.
20. La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R.W. (1998). Law and finance. The Journal of Political Economy, 106(6), 1113-1155.
21. La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. W. (2000). Investor protection and corporate governance. Journal of Financial Economics, 58(1/2), 3-27.
22. La Porta, R., Lopez-de-Silanes, F., Shleifer, A., Vishny, R.W. (2002). Investor protection and corporate valuation. The Journal of Finance, 57(3), 1147-1170.
23. Lemmon, M. L., & Lins, K. V. (2003). Ownership structure, corporate governance, and firm value: Evidence from the East Asian financial crisis. The Journal of Finance, 58(4), 1445-1468.
24. Li, D., & Wu, C. (2002). The colour of the cats. The Economic and Social Review, 33(1), 133-146.
25. Licht, A. N. (2002). Bonding and dominance in securities markets: Cross-listing and corporate governance. Working Paper.
26. Licht, A. N. (2004). Cross-listing and corporate governance: Bonding and avoiding? Corporate Ownership and Control, 1(4), 36-48.
27. MacNeil, I. (2001). Competiton and convergence in corporate regulation: The case of overseas listed companies. Working Paper. University of Aberdeen.
28. McConnell, J. J., & Servaes, H. (1995). Equity ownership and the two faces of debt. Journal of Financial Economics, 39(1), 131-157.
29. Michael, R., & Shaw, W. (1995). Does the choice of auditor convey quality in an initial public offering? Financial Management, 24(4), 15-30.
30. Mitton, T. (2002). A cross-firm analysis of the impact of corporate governance on the East Asian financial crisis. Journal of Financial Economics, 64(2), 215-241.
31. Penman, S. H., & Zhang, X. (2002). Accounting conservatism, the quality of earnings, and stock returns. The Accounting Review, 77(2), 237-264.
32. Rahman, M. (1998). The role of accounting in the East Asian financial crisis: Lessons learned? Transnational Corporations, 7(1), 1-51.
33. Reed, B., Trombley, M., & Dhaliwal, D. (2000). Demand for audit quality: The case of Laventhol and Horwath's auditees. Journal of Accounting, Auditing and Finance, 15(2), 183-198.
34. Reese, W., & Weisbach, M. (2002). Protection of minority shareholder interests, cross-listings in the United States, and subsequent equity offerings. Journal of Financial Economics, 66(1), 65-104.
35. Shleifer, A., & Vishny, R. W. (1986). Large shareholders and corporate control. The Journal of Political Economy, 94(3), 461-488.
36. Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance, 52(2), 737-783.
37. Siegel, J. (2005). Can foreign firms bond themselves effectively by renting U.S. securities laws? Journal of Financial Economics, 75(2), 319-359.
38. Stulz, R. M. (1999). Globalization of equity markets and the cost of capital. Journal of Applied Corporate Finance, 12(1), 8-25.
39. Sun, Q., & Tong, W. H. S. (2003). China share issue privatization: The extent of its success. Journal of Financial Economics, 70(2), 183-222.
40. Sun, Q., Tong, W. H. S., & Tong, J. (2002). How does government ownership affect firm performance? Evidence from China's privatization experience. Journal of Business Finance and Accounting, 29(1/2), 1-27.
41. Tian, L. (2002). Government shareholding and the value of China's modern firms. Working Paper. London Business School.
42. Titman, S., & Trueman, B. (1986). Information quality and the valuation of new issues. Journal of Accounting and Economics, 8(2), 159-172.
43. Wojcik, D., Clark, G. L., & Bauer, R. (2004). Corporate governance and cross-listing: Evidence from European companies. Working Paper. Jesus College, Oxford.
44. Xu, L. C. (2000). Control, incentives and competition: The impact of reform on Chinese stateowned enterprises. The Economics of Transition, 8(1), 151-173.
45. Xu, X., & Wang, Y. (1999). Ownership structure and corporate governance in Chinese stock companies. China Economic Review, 10(1), 75-98.