All Outputs (4)

Media Censorship and Stock Price: Evidence from the Foreign Share Discount in China (2018)
Journal Article
Ding, R., Hou, W., Liu, Y. (., & Zhang, J. Z. (2018). Media Censorship and Stock Price: Evidence from the Foreign Share Discount in China. Journal of International Financial Markets, Institutions and Money, 55, 112-133. https://doi.org/10.1016/j.intfin.2018.02.005

This paper studies the price implication of media censorship in the context of the long-standing foreign share discount puzzle in China. We conjecture that the government censors negative news and promotes positive news in Chinese media, leading to t... Read More about Media Censorship and Stock Price: Evidence from the Foreign Share Discount in China.

Does board independence affect audit fees? Evidence from recent regulatory reforms (2016)
Journal Article
Zhang, J., & Yu, Y. (2016). Does board independence affect audit fees? Evidence from recent regulatory reforms. Financial Markets, Institutions and Instruments, 25(4), 793-814. https://doi.org/10.1080/09638180.2015.1117007

To enhance board oversight, since 2002, US legislation has required listed companies to have a majority independent board. This paper uses this legislative change to examine the relation between board independence and audit fees. To provide a clean e... Read More about Does board independence affect audit fees? Evidence from recent regulatory reforms.

Asset Securitizations and Credit Default Swaps (2014)
Journal Article
Zhang, J. (2014). Asset Securitizations and Credit Default Swaps. Financial Markets, Institutions and Instruments, 23(4), 211-243. https://doi.org/10.1111/fmii.12019

This study examines the effects of off-balance sheet versus on-balance sheet securitizations on the originator's credit risk in the default swap (CDS) market across the recent business cycle from 2002 to 2009. I find that on-balance sheet securitizat... Read More about Asset Securitizations and Credit Default Swaps.

Changes in the Measurement of Fair Value: Implications for Accounting Earnings (2014)
Journal Article
Fargher, N., & Zhang, J. (2014). Changes in the Measurement of Fair Value: Implications for Accounting Earnings. Accounting Forum, 38(3), 184-199. https://doi.org/10.1016/j.accfor.2014.06.002

With the FASB's issue of staff position papers in 2009 and the relaxation of how fair value standards are applied, there has been a change in the practice of how fair value is measured. Since the FASB staff position papers in 2009, fair value measure... Read More about Changes in the Measurement of Fair Value: Implications for Accounting Earnings.