Essays on Chinese Corporate Finance

Abstract

Since China launched its stock market in the early 1990s and began establishing modern corporations, it has experienced remarkable economic growth. Now the world’s second-largest economy, China is home to numerous globally influential corporations. This rapid development has spurred extensive research in corporate finance, focusing on the unique institutional factors influencing the behavior and performance of Chinese corporate leaders and firms. This thesis investigates these factors through three essays that explore the impact of unique Chinese historical events, institutional and regulatory environment changes, and environmental challenges on corporate decision-making and firm performance.