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Essays on Financial Development and ...

Sun, Wu.

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Essays on Financial Development and Corporate Governance: Studies Based on the Chinese Experience.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on Financial Development and Corporate Governance: Studies Based on the Chinese Experience./
Author:	Sun, Wu.
Description:	189 p.
Notes:	Source: Dissertation Abstracts International, Volume: 77-07(E), Section: A.
Contained By:	Dissertation Abstracts International77-07A(E).
Subject:	Economic theory. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10024918
ISBN:	9781339519418

Essays on Financial Development and Corporate Governance: Studies Based on the Chinese Experience.
Sun, Wu.

Essays on Financial Development and Corporate Governance: Studies Based on the Chinese Experience. - 189 p.

Source: Dissertation Abstracts International, Volume: 77-07(E), Section: A.

Thesis (Ph.D.)--The Chinese University of Hong Kong (Hong Kong), 2015.

This thesis empirically investigates corporate governance and financial development in China. Chapter 1 exploits the unique issuance and release scheme of mandatory independent opinions that was implemented in China to trace the labor market outcomes in the period of 2003--2012 for independent directors. Moderately dissenting directors have significantly better chances of securing new directorship than supportive directors do. Results suggest that moderate dissension, which strikes a balance between exercising corporate monitoring and avoiding sharp confrontation, is acceptable in a relationship-based society. Chapter 2 examines the effect of finance activities on income distribution in rural China. We note that access to formal finance significantly raises the inequality in income distribution, whereas access to informal finance does not significantly reduce inequality. Typically, the relatively rich and politically privileged rural households have preferential access to finance, especially formal finance. Moreover, the funds raised are channeled primarily into tertiary and secondary industries, thus raising the income of households who obtain loans and widening the inequality in income distribution when the outreach of external finance is limited. Chapter 3 analyzes how poor rural households in China are affected by finance activities; we show that the size and outreach of informal finance is greater than those of formal finance. However, informal and formal loans are still insufficient to lift poor households out of poverty. Ultra-poor households below the national poverty line mainly use loans to make minor improvements to agricultural production tools and to meet the requirements of daily life.

ISBN: 9781339519418Subjects--Topical Terms:

1556984
Economic theory.

Essays on Financial Development and Corporate Governance: Studies Based on the Chinese Experience.
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100 1 $a Sun, Wu. $3 3190731
245 1 0 $a Essays on Financial Development and Corporate Governance: Studies Based on the Chinese Experience.
300 $a 189 p.
500 $a Source: Dissertation Abstracts International, Volume: 77-07(E), Section: A.
500 $a Adviser: Julan Du.
502 $a Thesis (Ph.D.)--The Chinese University of Hong Kong (Hong Kong), 2015.
520 $a This thesis empirically investigates corporate governance and financial development in China. Chapter 1 exploits the unique issuance and release scheme of mandatory independent opinions that was implemented in China to trace the labor market outcomes in the period of 2003--2012 for independent directors. Moderately dissenting directors have significantly better chances of securing new directorship than supportive directors do. Results suggest that moderate dissension, which strikes a balance between exercising corporate monitoring and avoiding sharp confrontation, is acceptable in a relationship-based society. Chapter 2 examines the effect of finance activities on income distribution in rural China. We note that access to formal finance significantly raises the inequality in income distribution, whereas access to informal finance does not significantly reduce inequality. Typically, the relatively rich and politically privileged rural households have preferential access to finance, especially formal finance. Moreover, the funds raised are channeled primarily into tertiary and secondary industries, thus raising the income of households who obtain loans and widening the inequality in income distribution when the outreach of external finance is limited. Chapter 3 analyzes how poor rural households in China are affected by finance activities; we show that the size and outreach of informal finance is greater than those of formal finance. However, informal and formal loans are still insufficient to lift poor households out of poverty. Ultra-poor households below the national poverty line mainly use loans to make minor improvements to agricultural production tools and to meet the requirements of daily life.
590 $a School code: 1307.
650 4 $a Economic theory. $3 1556984
650 4 $a Finance. $3 542899
650 4 $a Management. $3 516664
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710 2 $a The Chinese University of Hong Kong (Hong Kong). $3 1017547
773 0 $t Dissertation Abstracts International $g 77-07A(E).
790 $a 1307
791 $a Ph.D.
792 $a 2015
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10024918