Institutions and Information Environment of Chinese Listed Firms

摘要: This paper describes the financial reporting practices and information environment of Chinese listed firms documents influence that local country-level institutions have on incentives resultant environment. We identify four key institutional arrangements supply demand for about firms: State’s controlling ownership firms, government’s control capital markets, limited protection property rights weak market institutions, a lack independence auditors, importance social networks political connections. The concludes by discussing how actual potential changes in these would likely China’s