Chinese Companies’ Localization in Kyrgyzstan and Tajikistan

2020 ◽  
Vol 67 (3) ◽  
pp. 241-250 ◽  
Author(s):  
Dirk van der Kley
Keyword(s):  
Chinese Companies

Audit Quality of Chinese ADR Engagements

2016 ◽  
Vol 31 (2) ◽  
pp. 25-43 ◽  
Author(s):  
Aloke (Al) Ghosh ◽  
Elisabeth Peltier ◽  
Cunyu Xing
Keyword(s):  
Audit Quality ◽  
Emerging Market ◽  
Financial Statements ◽  
Foreign Firms ◽  
American Depositary Receipts ◽  
Reverse Mergers ◽  
Chinese Companies ◽  
Big 4 ◽  
Depositary Receipts

SYNOPSIS The controversy over Chinese reverse mergers has led to concerns about the audit quality of all U.S.-listed Chinese companies. Because a sizeable number of foreign firms cross-list their shares as American Depositary Receipts (ADRs) issued by U.S. depositary banks (as opposed to direct listings), we study how auditors have managed their audits of Chinese ADRs. Our motivation for examining Chinese ADRs is based on the findings that cross-listing via the ADR process is beneficial for U.S. shareholders. We find that relative to ADRs from countries other than China, and relative to directly listed Chinese companies, Chinese ADRs are more likely to be associated with a Big 4 auditor and are less likely to restate prior-period financial statements. We also find that Chinese ADRs pay significantly higher fees than other emerging market ADRs and Chinese direct-listings. Collectively, these results suggest high audit quality for Chinese ADRs, which is in sharp contrast to the Chinese direct-listing results. Using Tobin's Q as a measure of market value, we find that the stock market rewards Chinese ADRs, indicating that investors incorporate the benefits of higher audit quality when evaluating Chinese ADRs.

scholarly journals Exploring the Changing Role of Chinese Entities in WMD Proliferation

2016 ◽  
Vol 225 ◽  
pp. 50-72 ◽  
Author(s):  
Daniel Salisbury ◽  
Lucy Jones
Keyword(s):  
Chinese Government ◽  
Chinese Companies ◽  
State Owned Enterprise ◽  
Chinese State ◽  
Number Of Publications ◽  
Changing Role

AbstractThis paper seeks to provide an original examination of the nature of the proliferation of sensitive materials and technologies by Chinese entities. A number of publications have attempted to understand the issue of proliferation stemming from businesses based in China, with many having commented on the efforts undertaken both by international actors and by the Chinese government to prevent it. However, relatively few scholars have sought, in any systematic and sustained way, to understand the types of Chinese companies involved in proliferation and the evolution of their behaviour. This paper seeks to argue and account for the declining role of, and concern regarding, Chinese state-owned enterprise in the global proliferation problem. Different accounts for this change, and the relating proliferation challenge posed by China, are examined.

The Puzzle of the Underdog’s Victory

2021 ◽  
pp. 624-646
Author(s):  
Peter Ping Li ◽  
Shihao Zhou ◽  
Monsol Zhengyin Yang
Keyword(s):  
Global Market ◽  
Global Competition ◽  
Central Theme ◽  
The Past ◽  
Chinese Companies ◽  
Salient Features ◽  
Practical Implications

Traditionally, Chinese companies have been viewed as underdogs in global competition, but many Chinese latecomers have actually caught up and become major players in the global market in the past decade. This begs the question about this puzzle. Based on the authors’ case evidence, the central theme of this chapter is that many successful corporate underdogs share a pattern with two salient features. First, these firms tend to have stretch goals, that is, seemingly impossible goals given their available capabilities. Second, such firms tend to behave in a way similar to the notion of bricolage in terms of “making do by applying combinations of the resources at hand to new problems and opportunities.” By focusing on the question of how stretch goals and exploratory bricolage work together in the context of China, this chapter identifies the bricolage pattern with both theoretical and practical implications for both scholars and practitioners within and beyond China.

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