Should earnings thresholds be used as delisting criteria in stock market
作者： Guohua Jiang , Hansheng Wang
DOI: 10.1016/J.JACCPUBPOL.2008.07.002
关键词:
摘要: Abstract In Chinese stock market, firms reporting two consecutive annual losses are subject to special treatment (ST), with further causing the firms’ stocks be suspended from trading or delisted. We argue that these earnings-based delisting requirements misconstrued. Such policies drive financially healthy out of and induce listed engage in rampant earnings manipulation order avoid delisting. The results carry important public policy implications for securities market regulation.
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