Search results

1 – 10 of over 4000
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 9 January 2020

Xiaolong Li, Lin Tian, Liang Han and Helen (Huifen) Cai

The purpose of this paper is to use samples from Chinese-listed companies to investigate the effects of interest rate deregulation and earnings transparency on company’s capital…

752

Abstract

Purpose

The purpose of this paper is to use samples from Chinese-listed companies to investigate the effects of interest rate deregulation and earnings transparency on company’s capital structure in China over the period of 2003–2015. In particular, the authors study the link between state-owned enterprises (SOEs), economic growth targets and marketization in China’s unique institutional context.

Design/methodology/approach

Based on the methodology of quantitative analysis, the authors use baseline and cluster analysis for all samples with full set of controls, for robustness tests of alternative proxy of interest rate control by using a cluster analysis at the firm level, regarding endogeneity tests conducted fixed effect model with adding instrument variables (IV), two-period factors regression method via IV and system generalized method of moments for dynamic analysis.

Findings

The results show that earnings transparency increases firm leverage and the additional tests suggest that such an effect takes place via a mechanism by reducing the cost of debt finance. However, information transparency could moderate the effects of interest rate deregulation on corporate capital structure. In addition, it finds that SOEs are less sensitive toward the changes of interest rates in China because lending to SOEs is policy-oriented and lacks of market evaluation of business risk. Government control is conducive to enhancing the transparency of the whole industry; however, market-oriented reform is conducive to enhancing the transparency of the company’s own information.

Research limitations/implications

The paper makes contribution to the relationship between earnings disclosure quality and capital structure in the Chinese unique institutional context, such as taking the progressive interest rate reform, SOES, different economic growth target and different marketization level in each province of China. The authors suggest that investors will pay more attention to the company’s own unique information transparency in the provinces with a high degree of marketization. As a potential direction for future research, the authors will investigate how the earnings transparency has impact on capital structure, and how such impact would depend on the transparency of specific business, the cap of foreign shareholding and the convenience of investment.

Practical implications

This research would be the target of banking market reform in order to bring a fair financing environment for all businesses in China. It implies that current experiment of interest rate liberalization in China is not as efficient as it could be in allocating funds across all businesses. State banks, SOEs and local governments are still the biggest players on both the demand and supply sides of the Chinese credit markets.

Social implications

The social implication of this paper lies in the fact that first, it provides additional evidence on the effect of market-oriented reforms through how the information transparency interacts with the financial decisions making of corporations. Second, it offers policy implication to banking market deregulation in China.

Originality/value

The paper makes contribution to the relationship between earnings disclosure quality and capital structure in the Chinese unique institutional context. This research tests the existing literature, such as Francis et al. (2004) and Zhang and Lu (2007), and suggests that informationally transparent firms have a higher debt ratio and lower effective interest costs on bank loans. In addition, this paper further explores the role played by interest rate deregulation in corporate finance, and in turn market fund allocation. This paper sheds new light on information transparency and explores the relationship between earnings disclosure quality and debt financing behaviors of Chinese publicly listed companies over the period of 2003–2015.

Details

International Journal of Emerging Markets, vol. 15 no. 5
Type: Research Article
ISSN: 1746-8809

Keywords

Access Restricted. View access options
Book part
Publication date: 28 May 2012

Jing Liu

This study is designed to identify the policy shift on migrant children's11There are various definitions of migrant children in urban China. In this research, migrant children…

Abstract

This study is designed to identify the policy shift on migrant children's11There are various definitions of migrant children in urban China. In this research, migrant children refer to the children from rural areas who have resided with their parents at the urban areas for at least six months without local household registration status. education at national level in urban China22With the rapid socioeconomic development and urbanization in China, the definition of urban China is changing. In this research, urban China refers to the major cities in China, such as Beijing, Shanghai, Guangzhou, Tianjin, Chongqing, and so forth. during the past decades. Meanwhile, it is expected to explore the policy limitations reflected by the practice at school level regarding accommodating migrant children's education.

This study is conducted through policy review regarding education for migrant children and analysis of data collected through questionnaires and interviews at one public junior high school in Beijing.

This study identifies a positive change of involving migrant children in urban public schools. However, there is a need for flexible mechanism that can fully accommodate various needs regarding migrant children's education in urban public schools.

The study argues the necessity of a multipartnership for establishing a sustainable public education system for accommodating migrant children education in urban public schools.

Being different from other research on the same issue in urban China, this study leads a new round of discussion on the quality education for migrant children.

Details

Living on the Boundaries: Urban Marginality in National and International Contexts
Type: Book
ISBN: 978-1-78052-032-2

Access Restricted. View access options
Book part
Publication date: 30 December 2011

Henan Cheng

Using Kunming, the capital of China's southwest Yunnan Province, as an example, this mixed-methods research examines three interacting dimensions of social change in contemporary…

Abstract

Using Kunming, the capital of China's southwest Yunnan Province, as an example, this mixed-methods research examines three interacting dimensions of social change in contemporary China: migration, ethnicity, and education. In particular, it sheds light on the issue of educational achievement of migrant children, especially children of ethnic minority background. The quantitative portion of the study is based on data gathered from over 700 sample students, teachers, and principals who participated in the “2008 Kunming Migrant Children's Survey.” A two-level hierarchical linear modeling (HLM) is employed to identify student- and school-level factors and to estimate the impacts of these factors on migrant children's academic achievement. The qualitative portion of the study is based primarily on the data collected through in-depth individual interviews and focus-group discussions with 97 migrant students, teachers, and school principals from 10 government and nongovernment migrant children's schools in Kunming between 2008 and 2009. The qualitative and quantitative results highlight four interrelated groups of educational barriers experienced by migrant students in pursuing compulsory education: institutional, socioeconomic, cultural, and psychological barriers. In particular, cultural and psychological barriers, including difficulty in school adaptation, low self-esteem, lack of family support, and discrimination against ethnic minorities due to their different religious beliefs and ethnic traditions, are found to have exerted particularly significant negative influences on academic achievements of ethnic minority students.

Details

The Impact and Transformation of Education Policy in China
Type: Book
ISBN: 978-1-78052-186-2

Keywords

Available. Open Access. Open Access
Article
Publication date: 30 November 2023

H.A. Dimuthu Maduranga Arachchi and G. Dinesh Samarasinghe

This study aims to examine the influence of the derived attributes of embedded artificial intelligence-mobile smart speech recognition (AI-MSSR) technology, namely perceived…

5055

Abstract

Purpose

This study aims to examine the influence of the derived attributes of embedded artificial intelligence-mobile smart speech recognition (AI-MSSR) technology, namely perceived usefulness, perceived ease of use (PEOU) and perceived enjoyment (PE) on consumer purchase intention (PI) through the chain relationships of attitudes to AI and consumer smart experience, with the moderating effect of consumer innovativeness and Generation (Gen) X and Gen Y in fashion retail.

Design/methodology/approach

The study employed a quantitative survey strategy, drawing a sample of 836 respondents from Sri Lanka and India representing Gen X and Gen Y. The data analysis was carried out using smart partial least squares structural equation modelling (PLS-SEM).

Findings

The findings show a positive relationship between the perceived attributes of MSSR and consumer PI via attitudes towards AI (AAI) and smart consumer experiences. In addition, consumer innovativeness and Generations X and Y have a moderating impact on the aforementioned relationship. The theoretical and managerial implications of the study are discussed with a note on the research limitations and further research directions.

Practical implications

To multiply the effects of embedded AI-MSSR and consumer PI in fashion retail marketing, managers can develop strategies that strengthen the links between awareness, knowledge of the derived attributes of embedded AI-MSSR and PI by encouraging innovative consumers, especially Gen Y consumers, to engage with embedded AI-MSSR.

Originality/value

This study advances the literature on embedded AI-MSSR and consumer PI in fashion retail marketing by providing an integrated view of the technology acceptance model (TAM), the diffusion of innovation (DOI) theory and the generational cohort perspective in predicting PI.

Access Restricted. View access options
Article
Publication date: 1 December 2003

Ming‐Long Lee and Ming‐Te Lee

The Revenue Reconciliation Act of 1993, implemented since 1 January 1994, facilitates the increase of institutional investment in the real estate investment trust (REIT) market…

1596

Abstract

The Revenue Reconciliation Act of 1993, implemented since 1 January 1994, facilitates the increase of institutional investment in the real estate investment trust (REIT) market. Utilizing this particular feature in the market, we examine the time‐series effect of institutional holdings to distinguish the tax‐loss‐selling hypothesis and the window‐dressing hypothesis for REITs. Consistent with the tax‐loss‐selling hypothesis, we have evidence that the January premiums decreased with the level of institutional involvement for REITs. Furthermore the January premiums declined significantly for equity REITs only that attracted more institutional investors than mortgage REITs. On the other hand, the January premiums did not decrease significantly for mortgage REITs. Overall the results suggest that trading strategies to profit the higher January returns may work only when institutional investors exit and leave the market.

Details

Journal of Property Investment & Finance, vol. 21 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

Access Restricted. View access options
Article
Publication date: 23 December 2024

Jianlei Han, Stewart Jones, Zini Liang, Zheyao Pan and Jing Shi

This paper examines the evolving landscape of accounting and finance research on the Chinese capital market, building on a previous study published at Abacus in 2018.

45

Abstract

Purpose

This paper examines the evolving landscape of accounting and finance research on the Chinese capital market, building on a previous study published at Abacus in 2018.

Design/methodology/approach

By incorporating data from 1999 to 2023, our analysis offers a detailed examination of shifts in academic focus, methodological advancements and thematic expansions over the last quarter-century.

Findings

The study reveals a substantial increase in accounting and finance publications related to the Chinese capital market in both Tier 1 and Asia-Pacific journals. The dynamic growth of the Chinese capital market during this period reflects profound economic transformations, characterized by technological innovations, sustainability commitments and regulatory reforms.

Originality/value

We conclude that the globally important Chinese capital market has attracted increasing academic attention, significantly advancing the understanding of accounting and finance research in China’s capital market.

Details

Journal of Accounting Literature, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-4607

Keywords

Access Restricted. View access options
Book part
Publication date: 24 April 2023

Han-Ying Liang, Yu Shen and Qiying Wang

Joon Y. Park is one of the pioneers in developing nonlinear cointegrating regression. Since his initial work with Phillips (Park & Phillips, 2001) in the area, the past two…

Abstract

Joon Y. Park is one of the pioneers in developing nonlinear cointegrating regression. Since his initial work with Phillips (Park & Phillips, 2001) in the area, the past two decades have witnessed a surge of interest in modeling nonlinear nonstationarity in macroeconomic and financial time series, including parametric, nonparametric and semiparametric specifications of such models. These developments have provided a framework of econometric estimation and inference for a wide class of nonlinear, nonstationary relationships. In honor of Joon Y. Park, this chapter contributes to this area by exploring nonparametric estimation of functional-coefficient cointegrating regression models where the structural equation errors are serially dependent and the regressor is endogenous. The self-normalized local kernel and local linear estimators are shown to be asymptotic normal and to be pivotal upon an estimation of co-variances. Our new results improve those of Cai et al. (2009) and open up inference by conventional nonparametric method to a wide class of potentially nonlinear cointegrated relations.

Access Restricted. View access options
Article
Publication date: 8 February 2021

Xin Tian, Jing Selena He and Meng Han

This paper aims to explore the latest study of the emerging data-driven approach in the area of FinTech. This paper attempts to provide comprehensive comparisons, including the…

1058

Abstract

Purpose

This paper aims to explore the latest study of the emerging data-driven approach in the area of FinTech. This paper attempts to provide comprehensive comparisons, including the advantages and disadvantages of different data-driven algorithms applied to FinTech. This paper also attempts to point out the future directions of data-driven approaches in the FinTech domain.

Design/methodology/approach

This paper explores and summarizes the latest data-driven approaches and algorithms applied in FinTech to the following categories: risk management, data privacy protection, portfolio management, and sentiment analysis.

Findings

This paper details out comparison between different existed works in FinTech with traditional data analytics techniques and the latest development. The framework for the analysis process is developed, and insights regarding the implementation, regulation and workforce development are provided in this area.

Originality/value

To the best of the authors’ knowledge, this paper is first to consider broad aspects of data-driven approaches in the application of FinTech industry to explore the potential, challenges and limitations of this area. This study provides a valuable reference for both the current and future participants.

Details

Information Discovery and Delivery, vol. 49 no. 2
Type: Research Article
ISSN: 2398-6247

Keywords

Access Restricted. View access options
Article
Publication date: 1 January 1996

Peter Zhou

This paper is a study of the current trends and conditions of electronic resources for Chinese studies, based on a recent survey on the Internet of 29 Chinese libraries in North…

117

Abstract

This paper is a study of the current trends and conditions of electronic resources for Chinese studies, based on a recent survey on the Internet of 29 Chinese libraries in North America and eight Chinese libraries in China, Taiwan and Hong Kong. The survey discussed current electronic resources for Chinese studies, with a union list of major Chinese language databases currently used in libraries in Asia and the US. Current views on the use and development of electronic resources for Chinese studies were summarised.

Details

The Electronic Library, vol. 14 no. 1
Type: Research Article
ISSN: 0264-0473

Access Restricted. View access options
Article
Publication date: 18 January 2008

Liang Han

Little research has been conducted on the effects of information technology on financing entrepreneurial businesses or small and medium sized enterprises (SMEs). The purpose of…

3553

Abstract

Purpose

Little research has been conducted on the effects of information technology on financing entrepreneurial businesses or small and medium sized enterprises (SMEs). The purpose of this paper is to examine the impacts of entrepreneurial online banking and relationship banking on the severity of financial problems perceived by entrepreneurs and their interactive effect. It also investigates how characteristics of individual businesses and entrepreneurial demographics influence SMEs' financial situation.

Design/methodology/approach

An ordered logistic model is used on a UK dataset to empirically test the hypotheses derived in this paper. The empirical evidence is drawn from the 2004 UK survey of SME finances, which contains a sample of 2,500 firms.

Findings

This paper finds that both entrepreneurial online banking behaviour and relationship banking alleviates the severity of financial problems perceived by entrepreneurs. The relationship affect is less evident for entrepreneurs who most frequently use an online approach to communicate with their banks than for those using traditional methods. Business and entrepreneur characteristics also have a strong impact on the severity of the financial problems suffered by SMEs.

Originality/value

This paper provides evidence supporting the favourable impacts of the application of information technology on entrepreneurial finance from the perspective of entrepreneur/business. It also identifies a substitute relationship between entrepreneurial online banking behaviour and relationship banking, a relationship which contradicts existing evidence.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 14 no. 1
Type: Research Article
ISSN: 1355-2554

Keywords

1 – 10 of over 4000
Per page
102050