China may soon become the world’s largest economy, but most academic research in top journals is based on U.S. data. The insights from papers on U.S. data may not automatically apply to China, since it has a unique set of institutional features, hence the need for research specific to China. At the same time, many aspects of the Chinese economy are shared by other developing as well as developed countries, such as the potential conflicts of interest between majority and minority shareholders, the prevalence of state ownership, and the intricate interactions between market mechanisms and policy interventions.
The Review of Finance is thus launching a Virtual Special Issue of high-quality papers we have previously published on China, which provide insights that may be applicable to countries far beyond China. A short summary of each paper and its potential relevance to the current crisis follows below.
All articles are freely available to read and download.
- Helping Hand or Grabbing Hand? Central vs. Local Government Shareholders in Chinese Listed Firms
Yan-Leung Cheung, P. Raghavendra Rau, Aris Stouraitis
Review of Finance, Volume 14, Issue 4, October 2010, Pages 669–694, https://doi.org/10.1093/rof/rfp024
- What Does Stock Ownership Breadth Measure?
James J. Choi, Li Jin, Hongjun Yan
Review of Finance, Volume 17, Issue 4, July 2013, Pages 1239–1278, https://doi.org/10.1093/rof/rfs026
- Financial Development and Patterns of Industrial Specialization: Evidence from China
Qing He, Chang Xue, Chenqi Zhu
Review of Finance, Volume 21, Issue 4, July 2017, Pages 1593–1638, https://doi.org/10.1093/rof/rfw024