All Outputs (44)

Life insurance misselling and the influences of client attributes: evidence from China (2023)
Journal Article
Bi, S., & Gao, S. (2023). Life insurance misselling and the influences of client attributes: evidence from China. Asian Journal of Business Ethics, 12, 219–237. https://doi.org/10.1007/s13520-023-00171-8

Prior studies have extensively explored factors that drive misselling behavior in life insurance markets, but considered little the influences of attributes of clients (particularly vulnerable clients) on unethical sales. Our study that is based on t... Read More about Life insurance misselling and the influences of client attributes: evidence from China.

Market reactions to voluntary disclosures of a strategic alliance agreement: evidence from China (2022)
Journal Article
Zhang, X., Li, W., & Gao, S. (2023). Market reactions to voluntary disclosures of a strategic alliance agreement: evidence from China. Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad, 52(2), 233-263. https://d

This paper examines the market reaction to strategic alliance agreements (SAAs), a prevalent yet previously uninvestigated corporate voluntary disclosure practice. We document that investors react positively to SAA disclosures in short windows, and t... Read More about Market reactions to voluntary disclosures of a strategic alliance agreement: evidence from China.

Gender diversity and financial statement fraud (2021)
Journal Article
Wang, Y., Yu, M., & Gao, S. (2022). Gender diversity and financial statement fraud. Journal of Accounting and Public Policy, 41(2), Article 106903. https://doi.org/10.1016/j.jaccpubpol.2021.106903

This study investigates the role of gender diversity in fraud commission and detection with a view to identifying whether companies with more female corporate leaders are less likely to be involved in financial statement fraud. Using a bivariate pro... Read More about Gender diversity and financial statement fraud.

The impact of economic freedom on financial analysts' earnings forecast: Evidence from the Asia-Pacific region (2021)
Journal Article
Hou, T. C., & Gao, S. (2021). The impact of economic freedom on financial analysts' earnings forecast: Evidence from the Asia-Pacific region. Finance Research Letters, 43, Article 102009. https://doi.org/10.1016/j.frl.2021.102009

This study investigates the impact of economic freedom (EcF) on analysts’ earnings forecast (AEF) accuracy. EcF is measured from five aspects: Government, Protection, Money, Trade, and Regulation. With the sample of 7,014 firms from 12 economies in t... Read More about The impact of economic freedom on financial analysts' earnings forecast: Evidence from the Asia-Pacific region.

Impact of Carbon Emission Trading System Participation and Level of Internal Control on Quality of Carbon Emission Disclosures: Insights from Chinese State-Owned Electricity Companies (2020)
Journal Article
Tan, D., Bilal, Gao, S., & Komal, B. (2020). Impact of Carbon Emission Trading System Participation and Level of Internal Control on Quality of Carbon Emission Disclosures: Insights from Chinese State-Owned Electricity Companies. Sustainability, 12, Artic

In recent years, the quality of carbon emission disclosures has become a central area of concern for different stakeholders of companies. Specifically, stakeholders of state‐owned enterprises (SOEs) want these companies to legitimize their actions re... Read More about Impact of Carbon Emission Trading System Participation and Level of Internal Control on Quality of Carbon Emission Disclosures: Insights from Chinese State-Owned Electricity Companies.

An empirical examination of IPO underpricing between high-technology and non-high-technology firms in Taiwan (2019)
Journal Article
Hou, T., & Gao, S. (2019). An empirical examination of IPO underpricing between high-technology and non-high-technology firms in Taiwan. Journal of Emerging Market Finance, 18(1), https://doi.org/10.1177/0972652719831535

This study investigates the determinants of initial public offering (IPO) underpricing by focusing on variables relating to information asymmetry, investor sentiment, and corporate governance and examines whether the determinants of IPO underpricing... Read More about An empirical examination of IPO underpricing between high-technology and non-high-technology firms in Taiwan.

A quantitative study of financing efficiency of low‐carbon companies: A three‐stage data envelopment analysis (2019)
Journal Article
Liu, X., Yu, X., & Gao, S. (2019). A quantitative study of financing efficiency of low‐carbon companies: A three‐stage data envelopment analysis. Business Strategy and the Environment, 28(5), 858-871. https://doi.org/10.1002/bse.2288

This study set out to evaluate the financing efficiency of low‐carbon companies. Applying a three‐stage data envelopment analysis with the data from 85 listed companies in China's low‐carbon industries over the period 2011 to 2017, this study has fou... Read More about A quantitative study of financing efficiency of low‐carbon companies: A three‐stage data envelopment analysis.

An empirical study of relationships between accounting conservatism and executive compensation-performance sensitivity (2019)
Journal Article
Zhang, X., Gao, S., & Zeng, Y. (2019). An empirical study of relationships between accounting conservatism and executive compensation-performance sensitivity. International Journal of Accounting and Information Management, 27(1), 130-150. https://doi.org/

Purpose The purpose of this paper is to study the relationship between accounting conservatism and executive compensation-performance sensitivity with a view to identifying the influence of accounting conservatism on the efficiency of executive comp... Read More about An empirical study of relationships between accounting conservatism and executive compensation-performance sensitivity.

Accountability in Islamic financial institution: the role of the Shari’ah supervisory board reports (2018)
Journal Article
Aribi, Z. A., Gao, S., & Arun, T. (2019). Accountability in Islamic financial institution: the role of the Shari’ah supervisory board reports. Journal of Islamic Accounting and Business Research, 10(1), 98-114. https://doi.org/10.1108/jiabr-10-2015-0049

Purpose The purpose of this paper is to explore whether any discrepancy exists between the disclosed in SSB reports of Islamic banks and the disclosure index which was based on stakeholders’ expectation. Design/methodology/approach This study use... Read More about Accountability in Islamic financial institution: the role of the Shari’ah supervisory board reports.

Stock Options and Credit Default Swaps in Risk Management (2017)
Journal Article
Al-Own, B., Minhat, M., & Gao, S. (2018). Stock Options and Credit Default Swaps in Risk Management. Journal of International Financial Markets, Institutions and Money, 53, 200-214. https://doi.org/10.1016/j.intfin.2017.09.021

The use of stock options and credit default swaps (CDS) in banks is not uncommon. Stock options can induce risk-taking incentives, while CDS can be used to hedge against credit risk. Building on the existing literature on executive compensation and r... Read More about Stock Options and Credit Default Swaps in Risk Management.

The Impact of Target Capital Structure and Market Mispricing on Takeover Financing: Empirical Evidence from China (2016)
Journal Article
Li, J., & Gao, S. S. (2016). The Impact of Target Capital Structure and Market Mispricing on Takeover Financing: Empirical Evidence from China. Global Review of Accounting and Finance, 7(2), 80-92

The dynamic trade-off theory and the market timing theory of capital structure are applied to analyze 5,923 Chinese takeover events from 2007 to 2014 with a view to identifying the influence of target capital structure (TCS), market mispricing and th... Read More about The Impact of Target Capital Structure and Market Mispricing on Takeover Financing: Empirical Evidence from China.

Contemporary Financial Risk Management Perceptions and Practices of Small-Sized Chinese Businesses (2014)
Journal Article
Gao, S. S., Oreal, S., & Zhang, J. (2014). Contemporary Financial Risk Management Perceptions and Practices of Small-Sized Chinese Businesses. International journal of risk and contingency management, 3(2), 31-42. https://doi.org/10.4018/ijrcm.2014040103

This study investigated the current perceptions and practices of financial risk management at small businesses in China. The researchers took an interpretative approach, using interviews within a case study, to collect qualitative data from Chinese b... Read More about Contemporary Financial Risk Management Perceptions and Practices of Small-Sized Chinese Businesses.

The usefulness of derivative disclosures for investment decision-making: Perceptions of Chinese institutional investors (2014)
Journal Article
Huang, Z., & Gao, S. (2014). The usefulness of derivative disclosures for investment decision-making: Perceptions of Chinese institutional investors. Journal of Chinese Economic and Foreign Trade Studies, 7(3), 173-192. https://doi.org/10.1108/jcefts-02-2

Purpose – The purpose of this study is to examine the usefulness of derivative disclosures from the perspective of Chinese institutional investors in relation to their investment decision-making. Design/methodology/approach – This study uses semi-s... Read More about The usefulness of derivative disclosures for investment decision-making: Perceptions of Chinese institutional investors.

Emerging market financial services development: the case of leasing in Poland and China (2014)
Journal Article
Jaworski, P. M., Sliwinski, A., & Gao, S. S. (2014). Emerging market financial services development: the case of leasing in Poland and China. International Journal of Innovation and Learning, 15, 365-382. https://doi.org/10.1504/IJIL.2014.062473

The aim of this paper is to present Polish and Chinese developments in this area in the period of 1999–2009 for the former and 2005–2008 the latter and then to compare both markets for 2007 and 2008 using different metrics. The time horizon is limite... Read More about Emerging market financial services development: the case of leasing in Poland and China.

Investors’ Reactions to Analysts’ Forecast Revisions and Information Uncertainty: Evidence of Stock Price Drift (2014)
Journal Article
Hou, T. C., Hung, W., & Gao, S. S. (2014). Investors’ Reactions to Analysts’ Forecast Revisions and Information Uncertainty: Evidence of Stock Price Drift. Journal of Accounting, Auditing and Finance, 29(3), 238-259. https://doi.org/10.1177/0148558X14

This study examines the relationship among analysts’ earnings forecast revisions, information uncertainty, and stock returns and provides new evidence that stock price drift occurs after analysts’ earnings forecast revisions. Using data from the Aust... Read More about Investors’ Reactions to Analysts’ Forecast Revisions and Information Uncertainty: Evidence of Stock Price Drift.

Do greenhouse gas emissions affect financial performance? – an empirical examination of Australian public firms (2013)
Journal Article
Wang, L., Li, S., & Gao, S. S. (2013). Do greenhouse gas emissions affect financial performance? – an empirical examination of Australian public firms. Business Strategy and the Environment, https://doi.org/10.1002/bse.1790

Previous studies that have attempted to relate corporate environmental performance to financial performance have generated conflicting results. This paper presents the findings of a study on the relationship between greenhouse gas (GHG) emissions and... Read More about Do greenhouse gas emissions affect financial performance? – an empirical examination of Australian public firms.

Markowitz efficiency and size effect: evidence from the UK stock market (2013)
Journal Article
Hwang, T., Gao, S. S., & Owen, H. (2013). Markowitz efficiency and size effect: evidence from the UK stock market. Review of Quantitative Finance and Accounting, https://doi.org/10.1007/s11156-013-0390-8

Academics and practitioners have frequently debated the relationship between market capitalization and expected return. We apply the Markowitz efficient frontier approach to develop a portfolio performance measure that compares the return of a portfo... Read More about Markowitz efficiency and size effect: evidence from the UK stock market.

Dividend tunneling and joint expropriation: empirical evidence from China's capital market (2012)
Journal Article
Lv, H., Li, W., & Gao, S. S. (2012). Dividend tunneling and joint expropriation: empirical evidence from China's capital market. European Journal of Finance, 18, 369-394. https://doi.org/10.1080/1351847X.2011.579741

This paper examines the association between cash dividends and the shareholders balancing mechanism (SBM) using the exogeneity and endogeneity assumptions of corporate ownership structure. This paper identifies, in the case of China, whether paying c... Read More about Dividend tunneling and joint expropriation: empirical evidence from China's capital market.

A two-pass model study of the CAPM: evidence from the UK stock market. (2012)
Journal Article
Hwang, T., Gao, S. S., & Owen, H. (2012). A two-pass model study of the CAPM: evidence from the UK stock market. Studies in economics and finance, 29, 89-104. https://doi.org/10.1108/10867371211229118

Purpose – There has been considerable debate on the linear relationship between systematic risk and return. The purpose of this study is to investigate whether security return can be explained by systematic risk. Design/methodology/approach – Thi... Read More about A two-pass model study of the CAPM: evidence from the UK stock market..

Narrative disclosure of corporate social responsibility in Islamic financial institutions (2012)
Journal Article
Aribi, Z. A., & Gao, S. S. (2012). Narrative disclosure of corporate social responsibility in Islamic financial institutions. Managerial Auditing Journal, 27, 199-222. https://doi.org/10.1108/02686901211189862

Purpose – This study aims to examine the influence of Islam on corporate social responsibility (CSR) and corporate social responsibility disclosure (CSRD) in Islamic financial institutions (IFIs) with a focus on an analysis of narrative reporting.... Read More about Narrative disclosure of corporate social responsibility in Islamic financial institutions.