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In order to research the relationship between managerial ownership and earnings quality in China, the article researches the financial data of Chinese listed firms by using the abnormal accrual model and adjusted Jones model, we find that managerial ownership influences earnings quality by firm's accounting choices. The empirical research shows that the distribution between of managerial ownership...
Low efficiency and waste are the main problems in the process of coal resources extraction in China. Taking the utilization and recovery rate into account, the article has analyzed the factors influencing the utilization and recovery rate and given some suggestions to improve it by setting up a dynamic optimal model. The analysis result indicates that: (i)the policy based on reserves to impose the...
Focusing on behavioral corporate finance, we argue that personal characteristics of chief executive officers, in particular overconfidence, can account for the widespread distortion of overinvestment in China. Based on the data of Chinese listed companies from 2004-2008, we study the relationship between managerial overconfidence and corporate overinvestment. The main result is that managerial overconfidence...
The relationship between financial development and economic growth has long been a topic of intense interest and debate in economic literature. Prior related research documented that financial development accelerate the economic growth. This paper empirically examines the impacts of financial development and marketization process on firm's external financial constraints by investigating whether financial...
A lot of empirical studies have been done on corporate dividend policy using firm-data, mostly for the US but seldom for emerging markets. In China, corporate dividend policy is still a new phenomenon. Based on the Signaling Theory (Lintner, 1956), two models are established to examine the relationship between corporate dividend policy and financial performance of Chinese listed companies. Sample...
This article uses the data from the FDI in China's service industry to analyze the service industry using the foreign direct investment's technology spillover effect on China's service industry. The results show that the development of FDI in China's service industry exists the technology spillovers. And then this paper proposes some related policies and suggestion that China should open up the service...
The empirical analysis on the relationship among money supply, economic growth, and inflation in china from 1998 to 2007 with co-integration and Granger Causality test approaches shows: there is no co-integration relationship among money supply, inflation, and economic growth, but there is co-integration relationship between money supply and inflation while there is no co-integration relationship...
Basing on the accounting basic equation and expanded equations reformed in 1993, the paper synthesizes the primary viewpoints about accounting equations system reconstruction, including the negation viewpoint on accounting expanded equations, the expansion viewpoint on accounting basic equation, the accounting equations system reconstruction viewpoint under private capital economy and reconstruction...
In this article we attempt to reexamine the familiar relationship between forward rate and future spot rate using RMB-USD on daily basis. By means of using cointegration techniques, we find that the RMBpsilas future spot rate and the current forward exchange rate have a long stable relationship and Granger causality testing proved that RMBpsilas spot exchange rate can be treated as an exogenous. However,...
Abstract-Taking China's ports-hinterland logistics system as an example, the paper discusses the harmonious operation of logistics finance management of supply chain which is composed of the functional entity activities such as transportation, warehousing, packaging, circulation and information transmission, as well as the goods movement of all sectors of the logistics process. The logistics finance...
Development finance plays a vital role in regional construction of infrastructure and the development of hi-tech enterprises in China, so it is of great significance to make objective and quantitative analysis of development finance contribution. This paper designs the models of development finance contribution and makes positivist analysis of it.
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