Structural Changes in Chinese Stock Market: A Review of Empirical Research

China Accounting and Finance Review, 2014, Forthcoming

33 Pages Posted: 10 Apr 2014

See all articles by Jiajia Fu

Jiajia Fu

Hong Kong Polytechnic University - School of Accounting and Finance

Haitian Lu

Hong Kong Polytechnic University - School of Accounting and Finance

Date Written: April 5, 2014

Abstract

China’s stock market has gone through major structural changes since its inception in early 1990s. In this survey article, we review the empirical literature that document these important structural changes and published in 15 leading accounting and finance journals from 1998 to 2013. In analyzing this literature we focus on the ‘distinctiveness’ of Chinese stock market compared with developed stock markets (e.g., U.S) and the research opportunities generated by the China setting. Key themes include China’s share issue privatization reforms, the political connections in private owned companies, characteristics of Chinese listed companies and their governance, the regulatory environment reforms in China, and the evolving role played by auditors and other information intermediaries.

Keywords: China, Stock Market, Structural Change, Corporate Governance, Financial Accounting, Auditing, Executive Compensation, Financial Reporting

JEL Classification: D82, D86, G21, G30, G34, G38, M40, M41, M50, M52, M55

Suggested Citation

Fu, Jiajia and Lu, Haitian, Structural Changes in Chinese Stock Market: A Review of Empirical Research (April 5, 2014). China Accounting and Finance Review, 2014, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2423022

Jiajia Fu

Hong Kong Polytechnic University - School of Accounting and Finance ( email )

Hung Hom, Kowloon
Hong Kong

Haitian Lu (Contact Author)

Hong Kong Polytechnic University - School of Accounting and Finance ( email )

M715, Li Ka Shing Tower
Hung Hom, Kowloon, Kowloon
Hong Kong

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