政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/119199

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 113311/144292 (79%)
Visitors : 50924601 Online Users : 939

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 商學院 > 會計學系 > 期刊論文 > Item 140.119/119199

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/119199

Title:	Are Investors Always Compensated for Information Risk? Evidence from Chinese Reverse-Merger Firms
Authors:	陳嬿如 Chen, Yenn-Ru 江彌修 Chiang, Mi-Hsiu 翁嘉祥 Weng, Chia-Hsiang
Contributors:	會計系
Keywords:	Information risk;Financial reporting quality;Reverse mergers;Valuation
Date:	2019-01
Issue Date:	2018-08-06 17:21:08 (UTC+8)
Abstract:	Using a data sample of 93 Chinese reverse-merger (CRM) firms listed in the U.S. over the period from 2000 to 2011, we find supporting evidence of poorer financial reporting quality exhibited by CRM firms relative to their respective US counterparts. Our main result indicates that while poor financial reporting quality induces information risk/asymmetry, higher (lower) information risk fails to be associated with higher (lower) expected returns. In contrast with prior studies that document information risk as non-diversifiable and a priced risk factor, the value relevance of the CRM firms’ financial reporting quality, in terms of information asymmetry-based premiums, is found to be remote.
Relation:	Review of Quantitative Finance and Accounting, Vol.52, No.1, pp.159-196
Data Type:	article
DOI 連結:	https://doi.org/10.1007/s11156-018-0706-9
DOI:	10.1007/s11156-018-0706-9
Appears in Collections:	[會計學系] 期刊論文

Files in This Item:

File	Description	Size	Format
0706-9.pdf		496Kb	Adobe PDF2	616	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...