Chen, Shenglan; Ma, Hui - In: China journal of accounting research : CJAR 10 (2017) 2, pp. 167-188
We show that peer effects influence corporate investment decisions. Using a sample of China’s listed firms from 1999 to 2012, we show that a one standard deviation increase in peer firms’ investments is associated with a 4% increase in firm i’s investments. We further identify the...