Special Issue of Journal of Corporate Finance: “Capital Markets, Financial Institutions, and Corporate Finance in China”

OVERVIEW: China will soon become the world’s largest economy. In recent years, we have learned a great deal about China, but there certainly is still much to be learned about China’s developing capital markets, maturing financial institutions, and ongoing financial management practices. Much of the existing research on China is outdated, as China has undergone major financial markets development and reforms in recent years. For example, interest rate liberalization is in its final stages, credit markets are developing quickly, as are over-the-counter markets, free trade zones are appearing and growing, and options, preferred stocks, shorting of index futures, and a new IPO registration process have been, or are being, introduced. What is the current state of China’s capital markets and how does it affect corporate finance strategies? What roles do China’s growing and maturing financial institutions and evolving financial markets regulations currently play in corporate finance policies? What is the current state of control by regulators? Just as important, what is currently different about Chinese markets, institutions, and financial management practices that make them unique, and what can we learn from them? Or, have China’s markets become more similar to the rest of the world? The purpose of this special issue is to improve our understanding of these important issues.

TOPICS: Topics for the special issue can include, but are not limited to, the following:
– Roles of Chinese capital markets and/or financial institutions on (i) corporate capital structure,
(ii) corporate investment strategies, (iii) corporate payout policies, (iv) corporate restructuring.
(v) financial contracting, (vi) international financial management practices, and (vii) corporate governance in China.
– Influences of developing legal structure and legal environment on corporate finance in China.
– Effects of ongoing evolution of asset pricing and market microstructure in China on corporate finance in China.
– Roles of evolving labor markets in China on corporate finance in China.
– Effects of evolving credit markets and securitization in China on corporate finance in China.
– Effects and roles of maturing securities analysts and institutional investors in China on corporate finance in China.
– Effects of recent major financial reforms and financial markets developments (e.g., split share reform, free trade zones, development of new financial products, etc.) on corporate finance in China.

EDITORS: Special Issue editors are Kenneth A. Kim, School of Economics and Management, Tongji University, and School of Management, State University of New York at Buffalo, Fuxiu Jiang, School of Business, Renmin University of China, and Zhan Jiang, Shanghai Advanced Institute of Finance, Shanghai Jiaotong University.

PAPER SUBMISSION PROCEDURE: There will be a 2-stage submission process. In the first stage, authors will submit their papers directly to the special issue editors at the following email address: jcf-china@rbs.org.cn. At this first stage, papers will undergo an initial screen by the special issue editors. Authors of papers that pass the initial screen will then be invited to submit their papers via the online submission system of JCF, and they will have to pay the usual submission fee.

DEADLINE: October 1, 2016

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