by Chan Shet Hung, Suzanne, Ma Yuk Lun, Yu Sai Hung. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 64-67). / TABLE OF CONTENTS --- p.ii / LIST OF ILLUSTRATIONS --- p.iv / LIST OF TABLES --- p.v / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Objectives --- p.1 / Scope of Study --- p.2 / Literature Review --- p.3 / Methodology --- p.6 / Sources of Data --- p.6 / Statistical Measurement --- p.6 / Chapter II. --- CONCEPTUAL FRAMEWORK --- p.8 / Regulatory Requirements for Dividend Payment in Hong Kong --- p.8 / Other Factors Affecting Dividend Policies --- p.9 / Common Dividend Policies --- p.10 / High Dividend Payout Policy --- p.10 / Constant Payout Ratio Policy --- p.11 / Constant Dividend Payment Policy --- p.12 / Low Dividend Payout Policy --- p.12 / Residual/Passive Dividend Policy --- p.13 / Chapter III. --- FINDINGS AND ANALYSIS --- p.14 / Overall Trend --- p.14 / Economic Growth and Market Performance Trend --- p.14 / Earnings and Dividend Trend --- p.15 / Analysis By Industry: Finance and Banking --- p.16 / Industry Operating Environment --- p.16 / Earnings and Dividend --- p.17 / Industry Norm Dividend Policy --- p.19 / Analysis of Representative Company in Industry --- p.19 / Analysis By Industry: Property --- p.22 / Industry Operating Environment --- p.22 / Earnings and Dividend --- p.23 / Industry Norm Dividend Policy --- p.24 / Analysis of Representative Company in Industry --- p.25 / Analysis By Industry: Congomerate Enterprise --- p.28 / Industry Operating Environment --- p.28 / Earnings and Dividend --- p.29 / Industry Norm Dividend Policy --- p.29 / Analysis of Representative Company in Industry --- p.30 / Analysis By Industry: Industrial --- p.33 / Industrial Operating Environment --- p.33 / Earnings and Dividends --- p.34 / Industry Norm Dividend Policy --- p.35 / Analysis of Representative Company in Industry --- p.36 / Analysis By Industry: Hotel --- p.38 / Industry Operating Environment --- p.39 / Earnings and Dividends --- p.34 / Industry Norm Dividend Policy --- p.41 / Analysis of Representative Company in Industry --- p.42 / Analysis By Industry: Utilities --- p.44 / Industry Operating Environment --- p.44 / Earnings and Dividends --- p.45 / Industry Norm Dividend Policy --- p.47 / Analysis of Representative Company in Industry --- p.48 / Chapter IV. --- CONCLUSIONS --- p.50 / Most Popular Dividend Policy --- p.50 / Statistical Analysis Result --- p.53 / APPENDIX --- p.55 / BIBLIOGRAPHY --- p.64

by Chan Tse-Kit, Chau Wing-Hong. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 41-44). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / ACKNOWLEDGMENTS --- p.v / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- OBJECTIVES --- p.4 / Chapter III. --- LITERATURE REVIEW --- p.5 / Chapter IV. --- DATA SAMPLE AND SOURCES --- p.10 / Chapter V. --- METHODOLOGY --- p.11 / Chapter VI. --- LIMITATIONS --- p.16 / Survival Bias --- p.16 / Time Lag --- p.16 / Change Financial Year End --- p.17 / Chapter VII. --- SAMPLE SUMMARY STATISTICS --- p.18 / Number of Samples --- p.18 / Sample Characteristics at Year 0 (Listing Year) --- p.19 / Implications --- p.19 / Chapter VIII. --- SUMMARY RESULTS --- p.20 / All Samples/No Segmentation --- p.20 / ROA --- p.20 / Profit Margin --- p.21 / Assets/Turnover --- p.21 / Current Ratio --- p.22 / ROE --- p.23 / EPS --- p.23 / Summary --- p.23 / Segmented by Assets Size in Year -1 --- p.25 / RQA --- p.25 / Profit Margin --- p.26 / ROE --- p.27 / EPS --- p.28 / Summary --- p.29 / Segmented by Major Shareholders' % Share in Year 0 --- p.30 / ROA --- p.30 / Profit Margin --- p.31 / ROE --- p.32 / EPS --- p.33 / Summary --- p.33 / Chapter IX. --- FINDINGS --- p.34 / Decline in Operating Performance --- p.34 / Asset Size --- p.36 / Relation between Managerial Ownership Retention and Operating Performance --- p.37 / Debt Reduction --- p.37 / Chapter X. --- RECOMMENDATIONS TO INVESTORS --- p.38 / Read the Prospectus Carefully --- p.38 / Be Aware of the Pattern --- p.39 / Chapter XI. --- CONCLUSIONS --- p.40 / BIBLIOGRAPHY --- p.41 / APPENDICES

Liu Yajun. / Thesis submitted in: November 2005. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2006. / Includes bibliographical references (leaves 89-93). / Abstracts in English and Chinese. / Chapter Chapter 1: --- Introduction --- p.5 / Chapter Chapter 2: --- ST Firms in China --- p.15 / Chapter Chapter 3: --- Sample Selection and Data Description --- p.22 / Chapter 3.1 --- Data sources --- p.22 / Chapter 3.2 --- Data description --- p.23 / Chapter Chapter 4: --- Methodology --- p.30 / Chapter 4.1 --- Event study for abnormal returns --- p.30 / Chapter 4.1.1 --- Definition and observation period --- p.30 / Chapter 4.1.2 --- Normal and abnormal returns --- p.31 / Chapter 4.1.3 --- Models to determine the normal returns --- p.31 / Chapter 4.1.4 --- Market model estimation --- p.33 / Chapter 4.1.5 --- Statistical inference --- p.35 / Chapter 4.2 --- Models with discrete dependent variables --- p.37 / Chapter 4.3 --- Wilconxon rank test --- p.38 / Chapter Chapter 5: --- Results of Empirical Studies --- p.39 / Chapter 5.1 --- Market reaction to ST events-event study --- p.39 / Chapter 5.2 --- Relationship of the cumulative abnormal returns and restructuring activities --- p.44 / Chapter 5.3 --- Relationship of ST status and restructuring activities --- p.50 / Chapter 5.4 --- Operational performance pre and post Share- restructuring activities of ST firms --- p.54 / Chapter 5.5 --- Regression result of operational performance pre and post share- restructuring activities --- p.57 / Chapter Chapter 6: --- Conclusion --- p.59 / Tables --- p.64 / Appendix I: Special Treatment System in China's Stock Market --- p.87 / References --- p.89

本論文使用世界銀行在2006年及2010年於六個拉丁美洲國家進行的企業調查所得之一組全新數據，重新在公司層面審視「金融發展--(公司)增長」的連結關係，發現即使控制了宏觀經濟的改變以及利用固定效應之縱橫計量模型進行估算，金融發展對公司銷售以及勞工生產力都有顯著的正面效果，支持以往相關的公司層面研究。 / 然而，與過往的公司層面研究不同，金融發展對比較大型公司的正面影響，相對小型公司之影響為大。這結果與較近期的研究指在新興市場中，金融發展會不成比例地刺激本來因政治或其他因素與金融體系比較密切的公司相符。未來研究應注重這些市場的獨特性以求更透徹地了解箇中機制。 / This thesis revisits the finance-growth nexus at the firm level. Using a new dataset based on the World Bank Enterprise Survey conducted in 2006 and 2010 covering six Latin American countries, financial development is found to have a positive effect on both the level of firm sales and labor productivity, after controlling for other macroeconomic changes and unobserved firm-specific effects in a panel-data estimation, reinforcing previous similar studies at the firm level, which relied only on cross-sectional data. / However, in contrast to earlier firm level cross-sectional researches, it is discovered that financial development exerts a greater positive effect on larger firms relative to smaller ones. This is consistent with more recent studies that finance disproportionately spurs growth of firms that are originally more connected to the financial system for political or other reasons in the context of emerging markets. Future researches should point to the uniqueness of these markets to understand more thoroughly the mechanism behind. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Tsang, Wai Him. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2012. / Includes bibliographical references (leaves 69-72). / Abstracts also in Chinese. / Abstract --- p.ii / 擇要 --- p.iii / Acknowledgements --- p.iv / Table of Contents --- p.v / Chapter 1 --- Introduction --- p.1 / Chapter 2 --- Motivation --- p.6 / Chapter 2.1 --- Revisiting the finance-growth connection at the firm-level with a new dataset --- p.13 / Chapter 2.2 --- The distributional effects associated with financial development --- p.18 / Chapter 3 --- Data Set and Methodology --- p.25 / Chapter 3.1 --- The Data --- p.25 / Chapter 3.2 --- Specifications --- p.28 / Chapter 4 --- Results --- p.32 / Chapter 4.1 --- Baseline Regressions --- p.32 / Chapter 4.2 --- Robustness Check by Splitting Samples --- p.37 / Chapter 5 --- Conclusions --- p.40 / Chapter 6 --- Figures and Tables --- p.42 / Chapter 7 --- References --- p.69

Hu Bingbing. / "July 2004." / Thesis (Ph.D.)--Chinese University of Hong Kong, 2004. / Includes bibliographical references (p. 69-73). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Mode of access: World Wide Web. / Abstracts in English and Chinese.

Leung Shek Ling Olivia. / "August 2004." / Thesis (Ph.D.)--Chinese University of Hong Kong, 2004. / Includes bibliographical references (p. 62-64). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Mode of access: World Wide Web. / Abstracts in English and Chinese.

Part B examines the relationship between firm board quality and initial underpricing and the post-IPO performance of 73 H-share and Red-chip share firms from 1993 to 2000. I hypothesize that a high quality board can convey the firm's intrinsic value to the market, thereby reducing the information asymmetry in the firm. Therefore, IPOs of firms with higher management quality will be characterized by lower underpricing level and higher aftermarket long-term stock performance. The level of underpricing is 32% for the sample firms. My result shows that firms with more foreigners on board tend to have a lower IPO underpricing level. The aftermarket, long-term downward drift is confirmed relative to all of the six benchmarks used in this paper. More foreigners on board are positively related to the post-IPO long-term stock performance. In summary, the results show that the management quality of directors has a positive influence on long-term post-IPO stock performance. / This paper consists of two parts. Part A This paper investigates the determinants of the adoption of executive stock option plans in Japanese firms and measures the market reaction of executive stock option grants. I find that firms with larger size, and low leverage level are more likely to adopt executive stock options. I also find that keiretsu firms in Japan are less likely to adopt stock options. In those firms that grant stock options, firms with high liquidity and those operate in noisier environment tend to use more option incentives. Japanese firms exhibit significant abnormal stock returns about 0.4% of at the announcement day. / Zhang Ling. / "March 2006." / Source: Dissertation Abstracts International, Volume: 67-11, Section: A, page: 4287. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2006. / Includes bibliographical references (p. 162-169). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. [Ann Arbor, MI] : ProQuest Information and Learning, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest dissertations and theses, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstracts in English and Chinese. / School code: 1307.

Huang Ming Xi = 三因結構模型之公司債劵定價及其應用 / 黃銘浠. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2003. / Includes bibliographical references (leaves 99-102). / Text in English; abstracts in English and Chinese. / Huang Ming Xi = San yin jie gou mo xing zhi gong si zhai quan ding jia ji qi ying yong / Huang Mingxi. / Abstract --- p.i / Acknowledgements --- p.iii / Contents --- p.iv / List of Figures --- p.vii / List of Tables --- p.xiii / Chapter Chapter 1. --- Introduction --- p.1 / Chapter Chapter 2. --- Structural Models of Credit Pricing --- p.3 / Chapter 2.1 --- Introduction --- p.3 / Chapter 2.2 --- Merton's Model (1974) --- p.4 / Chapter 2.2.1 --- The Framework of the Traditional Contingent Claims Analysis (CCA) --- p.5 / Chapter 2.2.2 --- The Valuation of Corporate Bonds with B-S Option Pric- ing Theory --- p.9 / Chapter 2.2.3 --- The Limitations of Traditional Contingent Claim Ap- proach --- p.12 / Chapter 2.3 --- "Shimko, Tejima and Deventer (1993)" --- p.15 / Chapter 2.3.1 --- The Merton's Model in a Stochastic Interest Rate Frame- work --- p.15 / Chapter 2.4 --- Longstaff and Schwartz (1995) --- p.17 / Chapter 2.4.1 --- A Structure Model of Early Default Mechanism and De- viations from APR --- p.17 / Chapter 2.5 --- Briys and de Varenne (1997) --- p.21 / Chapter 2.5.1 --- A Structure Model of Stochastic Default Barrier --- p.21 / Chapter 2.5.2 --- The Valuation of Risky Zero-Coupon Bonds --- p.22 / Chapter 2.6 --- Stationary-leverage-ratio Models --- p.25 / Chapter 2.6.1 --- Tauren (1999) --- p.25 / Chapter 2.6.2 --- Collin-Dufresne and Goldstein (2001) --- p.27 / Chapter 2.7 --- Summary --- p.29 / Chapter Chapter 3. --- The Valuation Framework of the Three-factor Model --- p.32 / Chapter 3.1 --- Introduction --- p.33 / Chapter 3.2 --- The Framework of the Three-factor Model --- p.35 / Chapter 3.3 --- The Valuation of Risky Bonds --- p.39 / Chapter 3.3.1 --- Imposing an Early Default Mechanism --- p.42 / Chapter 3.3.2 --- Application: The Valuation of Probability of Default --- p.45 / Chapter Chapter 4. --- The Pricing Methodology of the Three-factor Model --- p.46 / Chapter 4.1 --- Simplification of the Problem --- p.47 / Chapter 4.2 --- Methodology of Upper-lower Bound Scheme --- p.48 / Chapter 4.2.1 --- Single-stage Approximation --- p.48 / Chapter 4.2.2 --- Illustrative Examples --- p.53 / Chapter 4.2.3 --- Multistage Approximation --- p.54 / Chapter 4.2.4 --- Summary --- p.58 / Chapter 4.2.5 --- Systematic Multistage Estimation of Bond Price --- p.61 / Chapter 4.3 --- Estimation of Default Probability --- p.63 / Chapter Chapter 5. --- Numerical Results and Discussion --- p.69 / Chapter 5.1 --- Initial Setting of Parameters --- p.69 / Chapter 5.2 --- Numerical Results and Discussion --- p.74 / Chapter Chapter 6. --- Conclusion --- p.89 / Appendix A. The Derivation of the Three-Factor Model --- p.91 / Bibliography --- p.99

Chen, Chen. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2010. / Includes bibliographical references (p. 89-94). / Abstracts in English and Chinese. / Table of Contents --- p.vi / Chapter 1 --- Introduction --- p.1 / Chapter 2 --- Literature Review --- p.6 / Chapter 2.1 --- Operations and Finance Interface --- p.6 / Chapter 2.1.1 --- Single Period Setting --- p.6 / Chapter 2.1.2 --- Multi-Period Setting --- p.11 / Chapter 2.2 --- Trade Credit --- p.13 / Chapter 2.3 --- Supply Chain Contracts --- p.14 / Chapter 3 --- The Model --- p.16 / Chapter 3.1 --- Model Description --- p.16 / Chapter 3.1.1 --- The Basic Setting --- p.17 / Chapter 3.1.2 --- The Bank Loan Setting --- p.19 / Chapter 3.1.3 --- The Trade Credit Setting --- p.19 / Chapter 3.2 --- Demand Distribution Properties --- p.22 / Chapter 4 --- Retailer's Perspective --- p.24 / Chapter 4.1 --- The Single Period Problem --- p.24 / Chapter 4.2 --- The Basic Setting --- p.33 / Chapter 4.3 --- The Bank Loan Setting --- p.37 / Chapter 4.4 --- The Trade Credit Setting --- p.43 / Chapter 4.5 --- Summary --- p.47 / Chapter 5 --- Supplier's Perspective --- p.48 / Chapter 5.1 --- Single Period Results --- p.48 / Chapter 5.1.1 --- The Basic Setting --- p.49 / Chapter 5.1.2 --- The Bank Loan Setting --- p.53 / Chapter 5.1.3 --- The Trade Credit Setting --- p.60 / Chapter 5.2 --- Two-Period Problem --- p.69 / Chapter 5.3 --- Summary --- p.71 / Chapter 6 --- Numerical Study and Insights --- p.72 / Chapter 6.1 --- The Single Period Supply Chain --- p.72 / Chapter 6.1.1 --- Impact of Different Financing Schemes --- p.73 / Chapter 6.1.2 --- Supply Chain Efficiency --- p.77 / Chapter 6.2 --- Capital Constrained Retailer in Two-Period Setting --- p.79 / Chapter 6.2.1 --- Impacts of Different Financial Schemes on the Retailer --- p.79 / Chapter 6.2.2 --- Saving for the Future --- p.82 / Chapter 6.2.3 --- Comparison of the Single- and Two-Period Settings --- p.83 / Chapter 7 --- Conclusion and Future Research --- p.84 / Appendix / A Log-concavity of Some Common Distributions --- p.87 / Bibliography --- p.89

Law, Tak Yan. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2008. / Includes bibliographical references (leaves 38-39). / Abstracts in English and Chinese. / Chapter Chapter 1. --- Introduction --- p.1 / Chapter Chapter 2. --- Literature Review --- p.4 / Chapter 2.1 --- Brief Overview --- p.4 / Chapter 2.2 --- Determinants of the Target Debt Ratio --- p.7 / Chapter 2.3 --- Adjustments Toward the Target Ratio --- p.9 / Chapter Chapter 3. --- Methodology --- p.12 / Chapter 3.1 --- Estimation of the Target Leverage Ratio --- p.12 / Chapter 3.2 --- Factors affecting the Long-term Adjustment --- p.16 / Chapter 3.3 --- Persistence and Reversal of Effects --- p.19 / Chapter Chapter 4. --- Expected Signs of Variables --- p.22 / Chapter 4.1 --- Estimation of the Target Ratio --- p.22 / Chapter 4.2 --- Effects of Firm Histories --- p.24 / Chapter 4.2.1 --- Pecking order theory --- p.24 / Chapter 4.2.2 --- Tradeoff theory --- p.25 / Chapter 4.2.3 --- Market Timing Theory --- p.25 / Chapter Chapter 5. --- Data --- p.27 / Chapter Chapter 6. --- Empirical Findings --- p.29 / Chapter 6.1 --- Estimation of the Target Ratio --- p.29 / Chapter 6.2 --- Factors Affecting the Long-term Adjustment --- p.31 / Chapter 6.3 --- Persistence of the Effects --- p.33 / Chapter 6.4 --- Reversal of the Effects --- p.35 / Chapter Chapter 7. --- Concluding Remarks --- p.37 / References --- p.38 / Tables --- p.40