Zou, Hong; Wong, Sonia; Shum, Clement; Xiong, Jun; Yan, Jun - In: Journal of Banking & Finance 32 (2008) 12, pp. 2636-2645
This paper examines the demand for directors' and officers' liability insurance (D&O insurance) by Chinese listed companies where controlling-minority shareholder incentive conflicts are acute due to the concentrated and split ownership structure. We hypothesize and find evidence that the...