Abstract:We empirically analyse the authenticity of the information provided by Chinese listed corporations. First, we construct a signalling game among listed corporations and investors. We obtain the behaviours, which are positive strategic interactions on the amounts of stock issue and positive correlation between stock issuance and profit, of listed corporations when they provide untrue information. Second, by using the dataset of 2,408 listed corporations in 2016 from CCER China Economic and Financial Database, we… Show more
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