{"title":"An introduction to frontier on corporate finance and capital market development in China","authors":"Xiaofeng Quan , Kelvin Jui Keng Tan , Donghui Li","doi":"10.1016/j.pacfin.2024.102504","DOIUrl":null,"url":null,"abstract":"<div><p>This article reviews recent studies on the evolution of corporate finance and governance in China, driven by market and institutional development and reforms. It introduces the special issue “Frontier on Corporate Finance and Capital Market Development in China” for the Pacific-Basin Finance Journal (PBFJ), focusing on strategic transition toward digitalization and innovation. The discussed articles primarily explore the impacts of digital transformation and green innovation activities in Chinese firms, alongside the influence of formal institutional reforms and informal cultural and social norms on firm behavior, capital market functioning, and information dissemination in China. The article also calls for further research on China's registration-based IPO reform, financial liberalization policies, and the corporate efforts of Chinese firms toward greenness and sustainability.</p></div>","PeriodicalId":48074,"journal":{"name":"Pacific-Basin Finance Journal","volume":null,"pages":null},"PeriodicalIF":4.8000,"publicationDate":"2024-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Pacific-Basin Finance Journal","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0927538X24002567","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
This article reviews recent studies on the evolution of corporate finance and governance in China, driven by market and institutional development and reforms. It introduces the special issue “Frontier on Corporate Finance and Capital Market Development in China” for the Pacific-Basin Finance Journal (PBFJ), focusing on strategic transition toward digitalization and innovation. The discussed articles primarily explore the impacts of digital transformation and green innovation activities in Chinese firms, alongside the influence of formal institutional reforms and informal cultural and social norms on firm behavior, capital market functioning, and information dissemination in China. The article also calls for further research on China's registration-based IPO reform, financial liberalization policies, and the corporate efforts of Chinese firms toward greenness and sustainability.
期刊介绍：
The Pacific-Basin Finance Journal is aimed at providing a specialized forum for the publication of academic research on capital markets of the Asia-Pacific countries. Primary emphasis will be placed on the highest quality empirical and theoretical research in the following areas: • Market Micro-structure; • Investment and Portfolio Management; • Theories of Market Equilibrium; • Valuation of Financial and Real Assets; • Behavior of Asset Prices in Financial Sectors; • Normative Theory of Financial Management; • Capital Markets of Development; • Market Mechanisms.
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