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Research on corporate finance: history, challenge and prospect in China

Yue Lan (Financial Department, Xiamen University, Xiamen, China)
Jianyong Wang (Financial Department, Xiamen University, Xiamen, China)
Shinong Wu (Financial Department, Xiamen University, Xiamen, China)
Jie Yang (“One belt and one road” Financial Development Research Center, Xiamen National Accounting Institute, Xiamen, China)

Nankai Business Review International

ISSN: 2040-8749

Article publication date: 16 August 2019

Issue publication date: 4 December 2019

991

Abstract

Purpose

For the past years, the population of firms in China has increased fast. However, the financial research has always fallen behind the financial practice. Also, the Western financial theory may not be completely consistent with China’s context. In addition, appearing internet technology with big data and its applications to business bring some challenges not only to financial practice but also to the financial literature. Thus, the purpose of this paper is to review historical development of research in corporate finance, discuss the current issues and propose 16 key research topics in China context.

Design/methodology/approach

This paper surveys Western classical literature and some important literature by Chinese scholars in the field of corporate finance. On this basis, the authors point out the shortcomings of existing research and opportunities for future research.

Findings

The authors propose 16 key research topics in the near future considering the current reforms on economic development strategy, financial and taxation system and SOE’s property right under the institutional background in China.

Originality/value

This paper makes a contribution to corporate finance research by exploring frontier topics for future research according to the China context and the global trend. These topics represent the demand from enterprises in China and are challenges for the academic world. It is of practical significance and great theoretical value to implement these studies. It will help the management to solve their financial problems and provide a fundamental basis for constructing the financial management theory with Chinese characteristics.

Keywords

Acknowledgements

The authors would like to thank Mr Chen Youlin for this supportive work in the referential study.

Citation

Lan, Y., Wang, J., Wu, S. and Yang, J. (2019), "Research on corporate finance: history, challenge and prospect in China", Nankai Business Review International, Vol. 10 No. 4, pp. 487-500. https://doi.org/10.1108/NBRI-02-2019-0006

Publisher

:

Emerald Publishing Limited

Copyright © 2019, Emerald Publishing Limited

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