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|Other Titles:||Issues of Transparency, Fairness, and Justice of Stock Market in China|
Lee, Chi-Wen Jenvons;Song, Yun-Ling
Securities regulation;Selection bias;Regulatory effectiveness
|Issue Date:||2016-06-01 14:06:53 (UTC+8)|
The primary duty of securities regulators is to maintain transparency, fairness, and justice of the market. In mainland China, most disclosure requirements are met by listed firms. The market transaction mechanism provides open accessibility to all citizens. But criticism on the fairness and justice of securities regulation lingers on, of which most points to the “selective” legal enforcement arising from central government policies or local government interference. Meanwhile, various irregularities in disclosure and market transactions have been identified by extant literature. This paper provides a survey on studies related to these issues. We show that due to the “selective” legal enforcement, fraud activities in listing companies are not effectively curbed. Mechanical full disclosure does not lead to effective market transparency in mainland China; hence fairness and justice are in want.
International Journal of Accounting Studies
|Appears in Collections:||[International Journal of Accounting Studies] Journal Articles|
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