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Article
Publication date: 27 April 2020

Xiaojun Yuan, Yinjie Shen and Haigang Zhou

This paper aims to identify how house price affects household consumption.

484

Abstract

Purpose

This paper aims to identify how house price affects household consumption.

Design/methodology/approach

The authors use a micro-level data set that tracks the house price and consumption of a vast number of households over a period of four years. OLS regression is the main econometric method.

Findings

The authors document robust evidence that an increase in house prices stimulates household consumption, regardless of whether a household owns or rents. Moreover, the authors find that both acquiring and losing homeownership negatively affects household consumption. Further investigation suggests significant regional heterogeneity in the relationship between house prices and household consumption.

Originality/value

This is one of the first studies examining the relationship between house price and household consumption in China using micro-level data. Given the uniqueness of the Chinese housing market and China’s fast-growing consumption rate, the study contributes new evidence to the long-lasting debate.

Details

International Journal of Housing Markets and Analysis, vol. 13 no. 3
Type: Research Article
ISSN: 1753-8270

Keywords

Available. Open Access. Open Access
Article
Publication date: 4 October 2022

David Folsom, Iftekhar Hasan, Yinjie (Victor) Shen and Fuzhao Zhou

The aim of the paper is to investigate the associations between hedge fund activism and corporate internal control weaknesses.

1297

Abstract

Purpose

The aim of the paper is to investigate the associations between hedge fund activism and corporate internal control weaknesses.

Design/methodology/approach

In this paper, the authors identify hedge fund activism events using 13D filings and news search. After matching with internal control related information from Audit Analytics, the authors utilize ordinary least square (OLS) and propensity score matching (PSM) to analyze the data.

Findings

The authors find that after hedge fund activism, target firms report additional internal control weaknesses, and these identified internal control weaknesses are remediated in subsequent years, leading to better financial-reporting quality.

Originality/value

The findings indicate that both managers and activists have incentives to develop a stronger internal control environment after targeting.

Details

China Accounting and Finance Review, vol. 24 no. 4
Type: Research Article
ISSN: 1029-807X

Keywords

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