Shell Resource Depletion and Real Earnings Management in Listed Companies: Evidence from China
Description
This replication package provides the data, code, and documentation that can be made publicly available to support replication of the main empirical analyses presented in the paper. The materials are provided to enhance transparency and facilitate independent verification of the study’s findings.
Files
Steps to reproduce
The dataset was constructed using firm-level data obtained from the CSMAR database. 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 management and empirical analyses were conducted using Stata.