Yan-Leung Cheung

TL;DR: Himmelberg et al. as discussed by the authors analyzed a sample of 412 publicly listed Hong Kong firms during 1995-1998 in order to answer three questions: Does concentrated family ownership affect firm operating performance and value? Does it affect dividend policy? What is the impact of corporate governance on performance, value, and dividend payouts?

TL;DR: In this paper, the authors studied the role of risk sharing in share issue privatization in China and found that the size of compensation is positively associated with both the gain in risk sharing and the price impact of more shares coming to the market after the reform, and negatively associated with the bargaining power of holders of non-tradable shares and firm performance.

TL;DR: In this paper, the authors argue that firms that adopt CSR practices positively signal investors that their firms have superior capabilities for filling institutional voids, and they find a positive relationship between corporate social responsibility (CSR) practices and financial performance.

TL;DR: In this article, the authors investigated the role of risk sharing in the share issue privatization process in China and found that the size of a share is positively associated with both the gain in risk sharing and the price impact of more shares coming on the market.

TL;DR: In this paper, a detailed characterization of the intraday return volatility in gold futures contracts traded on the COMEX division of the New York Mercantile Exchange is provided, which allows the study of intra-day patterns, inter-day ARCH effects, and announcement effects in a coherent framework.