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The security situation of China's futures industry is currently in good condition on the whole, with strong industrial competitiveness and control force, as well as low external dependency. However, under the new normal, there still exist some problems, such as fewer trading varieties of futures, irrational investor structure and the slow internationalization process and so on. So we must accelerate...
Recently, China economy has entered the stage of “new normal”, series of reforms and the steady growth of economy boost the rapid development of China securities industry. In this paper, we designed a Data Envelopment Analysis (DEA) Model with multi inputs and outputs, and statically and dynamically evaluated the firms and the industry. Our findings indicated that in the period of “new normal”, there...
The tendency of the management that focuses on facets of strategies and business risks without comprehending the procurement, the implementation, the availability of services, and information technology governance supports leads to not centralised online cosmetics business management and an increasing level of the customer turnover. The aims of this research are to cognise the gap value of each process...
This paper finds that the single maximum daily AAR and CAR are greater during the directional add-issuance declaration which large shareholders subscribe or replace new shares with their assets than not by event study. So the signal effect of behavior of large shareholders in the directional add-issuance exists in the listed companies in China. But the factor analysis shows that the directional add-issuance...
Venture capital started in 1980s in China, the scale of which has grown rapidly in the recent thirty years. As the existence of lock-up period of stock right in our country, venture capital will continue to affect all aspects of corporate governance of the listed corporation after the successful listing. At present, Chinese listing Corporation generally have some problems in financing, mainly for...
Keyword search over relational databases offers an alternative way to SQL to query and explore databases that is effective for lay users who may not be well versed in SQL or the database schema. This becomes more pertinent for databases with large and complex schemas. An answer in this context is a join tree spanning tuples containing the query's keywords. As there are potentially many answers to...
Some indexes of R&D productivity have existed such as sales vs. R&D expense, operating income vs. R&D expense, and they are used for relative evaluation among competitors etc. Though top managements would like to know the contribution of R&D expense to sales and profit in a company, the above indexes are not satisfied for them. It is a issue to how R&D expense contributes sales...
This paper selected at random 212 Chinese manufacturing companies at the Shenzhen Stock Exchange in 2013 as the research objective in order to study the current situation of the voluntary disclosure. This paper found and summarized the problems of small number, low quality, and accuracy, lack of fixed and standardized forms in the process of the disclosure. Finally based on the study, this paper further...
Information technology risk prediction markets have potential to identify the probabilities of risk events that are relevant to information systems. Prediction markets provide a bidding mechanism that allows large number of participants to compete for forming the most accurate predictions for future events. The accuracy of forecasts regarding the frequency, nature, and the form of cyber attacks is...
Nowadays XBRL plays a more and more important role in daily operation for listed companies. However, there are many different aspects in disclosure regulations between China and America, which may impose a limitation on the pervasive application in China. From the comparative study, this paper intends to summarize the deficiency in XBRL disclosures of China and to provide some niche-targeting advice.
Online consumer trust in Business to Consumer (B2C) e-commerce trust has been viewed as a key differentiator that determines the success or failure of many companies conducting their business over the Internet. In order to explore the influence factor of consumer trust and their priority, and to look for the way to promote consumer trust, an Analytic Network Process (ANP) model is constructed in this...
Choosing the sample cases disclosed by China Securities Regulatory Commission between 2004 and 2010, this paper conducts empirical analysis for the insider's trading from the fluctuation and characteristics of three indicators—cumulative abnormal returns, volume's fluctuation index, announcement effect and inside information effect, based on improved event study method. The result gives support to...
Quite a few of existing literatures focused on research the inner impact of capital structure on Institutional Investors' Stockholding directly. In this paper, we have made an empirical research on this topic based on Chinese listed tourism companies' data during 2005–2009. The results indicated: (1) institutional investors were willing to hold listed tourism companies' shares with lower asset-liability...
Using the data of listed firms from 2002 to 2009 year in the Chinese securities market, this paper do an empirical study on the correlation of audit market concentration and audit quality. The results showed that: China's audit market concentration is still at a low level, but is gradually improving; the ratio of Non-standard audit opinion, as a proxy for audit quality was not positively correlated...
This paper has chosen 336 listed firms which implemented strategy of divestitures during 2004–2007 as research objectives, using event study on analysis, in order to research listed firms' market performance on divestiture in China. The result shows that share price increases constantly and firms can gain positive cumulative average abnormal returns in a certain period around the announcement date...
The issue of the separation of ownership from control and the alignment of management and shareholder via the managerial ownership of equity remain the key topic of Chinese listed companies. Through the empirical study, this paper reveals that the managerial shareholding has no effect on management performance. The fundamental resolution to get the stock option incentive work in China is to set up...
This paper tests the relationship between diversification and corporate performance based on Chinese western agricultural listed companies. Regression results for a sample of Chinese western agricultural listed companies support the hypotheses that the relationship between diversification and corporate performance is positive, indicating diversification strategy can improve companies' performance.
This paper describes the financial situation of companies Hebei, based on the use of Altman's Z score model, and in 2010, Hebei 31 A-share listed companies as samples, the financial risk of their empirical research. The results show that, Z score model in the forecast financial risk of listed companies has a positive significance and for the future development of China's listed companies have an important...
The intention to build up Chinese Growth Enterprise Markets is to provide financing channel for small and medium-sized enterprises, thereby promote the small and medium enterprises to grow up and build up multi-level capital market system. To understand the financial condition of the listed companies on GEM, it makes analysis on asset-liability ratio, financial expenses and return on net assets and...
The earnings of the listed company decides its value, measuring the quality condition of earnings synthetically is conducive to reflect the real state of profitability more objectively. Difference exists in the measurement of earnings quality for different industries, take manufacturing industry for example, this article will use factor analysis to construct a index system to measure the quality of...
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