Structural changes in the Chinese stock market : a review of empirical research

Haitian Lu, J. Fu

Research output: Journal article publicationJournal articleAcademic research


China’s stock market has gone through major structural changes since its inception in the early 1990s. In this survey article, we review the empirical literature published in 15 leading accounting and finance journals from 1998 to 2013 that documents these important structural changes. In analysing this literature, we focus on the ‘distinctiveness’ of the Chinese stock market compared with developed stock markets (e.g. US) and the research opportunities generated by the China setting. Key themes include China’s share issue privatisation (SIP) reforms, the political connections in privately owned companies, the characteristics of Chinese listed companies and their governance, the regulatory environment reforms in China, and the evolving role played by auditors and other information intermediaries.
Original languageEnglish
Pages (from-to)39-65
Number of pages27
JournalChina accounting and finance review (中國會計與財務硏究)
Issue number2
Publication statusPublished - 2014


  • China
  • Stock market
  • Structural change
  • Corporate governance
  • Financial accounting
  • Auditing
  • Executive compensation
  • Financial reporting


Dive into the research topics of 'Structural changes in the Chinese stock market : a review of empirical research'. Together they form a unique fingerprint.

Cite this