Shell Resource Depletion and Real Earnings Management in Listed Companies: Evidence from China

Description

This replication package includes all publicly available data, codes, and documentation necessary to reproduce the main empirical analyses presented in the paper. The materials are provided to ensure transparency and support independent replication and validation of the study’s findings.

Steps to reproduce

The dataset was constructed using firm-level financial and governance data obtained from the WIND and CSMAR databases. The empirical analysis exploits the China Securities Regulatory Commission (CSRC) Notification issued on November 30, 2013, which restricted shell listings on the Growth Enterprise Market (GEM). Based on this policy shock, treatment, post-policy, and DID variables were constructed to implement the difference-in-differences (DID) analysis. Data processing and empirical analyses were conducted using Stata.

Categories

Funders

• National Natural Science Foundation of China

  Beijing

  Grant ID: 72202076
• China Scholarship Council

  Ministry of Education of the People's Republic of China

  Beijing

  Grant ID: 202506750040

Licence