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- Publications
- Influence
Tunneling, Propping, and Expropriation: Evidence from Connected Party Transactions in Hong Kong
- Stephen Yan-Leung Cheung, P. Raghavendra Rau, A. Stouraitis
- 1 May 2004
We examine a sample of 328 filings of "connected transactions" between Hong Kong listed companies and their controlling shareholders during 1998-2000. We address three questions: What types of… Expand
Ownership concentration, firm performance, and dividend policy in Hong Kong
- Z. Chen, Y. Cheung, A. Stouraitis, Anita W.S. Wong
- Economics
- 1 September 2005
The relations among ownership concentration in family firms, firm performance, and dividend policy in Hong Kong are explored. Three questions are investigated: (1) Is firm operating performance and… Expand
Tunneling and Propping Up: An Analysis of Related Party Transactions by Chinese Listed Companies
- Stephen Yan-Leung Cheung, Lihua Jing, T. Lu, P. Raghavendra Rau, A. Stouraitis
- Business
- 20 September 2009
We examine a sample of related party transactions between Chinese publicly listed firms and their controlling shareholders during 2001-2002. Minority shareholders in these firms seem to be subject to… Expand
Tunneling, Propping, and Expropriation: Evidence from Connected Party Transactions in Hong Kong
- Y. Cheung, P. R. Rau, A. Stouraitis
- Economics
- 1 November 2006
We examine a sample of 328 filings of "connected transactions" between Hong Kong listed companies and their controlling shareholders during 1998-2000. We address three questions: What types of… Expand
Buy High, Sell Low: How Listed Firms Price Asset Transfers in Related Party Transactions
- Y. Cheung, Yuehua Qi, P. R. Rau, A. Stouraitis
- Economics
- 20 September 2009
We examine a sample of 254 related party and arms' length acquisitions and sales of assets in Hong Kong during 1998-2000. Our analysis shows that publicly listed firms enter deals with related… Expand
Reversing Corporate Diversification and the Use of the Proceeds from Asset Sales: The Case of Thorn EMI
- Kevin Kaiser, Kevin Kaiser, A. Stouraitis
- Economics
- 24 January 2001
The restructuring of Thorn EMI transformed a diversified conglomerate trading at a diversification discount into a focused music company, while creating considerable value for shareholders. At the… Expand
How Much Do Firms Pay as Bribes and What Benefits Do They Get? Evidence from Corruption Cases Worldwide
- Y. Cheung, P. R. Rau, A. Stouraitis
- Business
- 30 March 2012
We analyze a hand-collected sample of 166 prominent bribery cases, involving 107 publicly listed firms from 20 stock markets that have been reported to have bribed government officials in 52… Expand
Helping Hand or Grabbing Hand? Central vs. Local Government Shareholders in Chinese Listed Firms
- Y. Cheung, P. R. Rau, A. Stouraitis
- Business
- 1 October 2010
We analyze related party transactions between Chinese publicly listed firms and their state-owned shareholders to examine whether companies benefit or lose from the presence of government… Expand
A DISJOINT SET ALGORITHM FOR THE WATERSHED TRANSFORM
In this paper the implementation of a watershed transform based on Tarjan’s Union-Find algorithm is described. The algorithm computes the watershed as defined by Meyer in [4]. The algorithm consists… Expand
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Ownership Concentration and Executive Compensation in Closely Held Firms: Evidence from Hong Kong
- Yan Leung Stephen Cheung, A. Stouraitis, Anita W.S. Wong
- Business
- 1 September 2005
Owners-managers of closely held firms effectively decide on the level of their own compensation. We test the relationship between ownership concentration and executive compensation, using panel data… Expand