Xiaoxiang Zhang

TL;DR: In this article, the authors argue that ownership structure provides an important mechanism by which firms can assemble and direct the resources necessary for innovation in the context of inadequate external institutions, and they hypothesize that ownership type diversity improves innovation performance and that increasing ownership concentration has the same effect but only up to a point.

TL;DR: In this article, the authors argue that ownership structure provides an important mechanism by which firms can assemble and direct the resources necessary for innovation in the context of inadequate external institutions, and hypothesize that ownership type diversity improves innovation performance and that increasing ownership concentration has the same effect, but only up to a point.

TL;DR: In this paper, the authors investigated how family control affects private information abuses and firm performance in emerging economies and found that family ownership and control over the board increases the risk of private information abuse and has a negative impact on stock market performance.

TL;DR: In this paper, the authors investigated how the trading activities of foreign institutional investors (FIIs) affect the tunneling activities of controlling shareholders in an emerging economy (China) and found strong support for their hypothesis of an inverted U-shaped relationship between FII trading turnover and the extent of tunneling by controlling shareholders.

TL;DR: In this paper, the authors investigate how large family shareholders and institutional block-holders jointly influence informed trading and firm valuation in the Hong Kong stock market and find that institutional blockholders rely on their relative controlling power vis-a-vis family owners to mitigate problems associated with informed trading.