Liang, Shangkun; Fu, Rong; Jiang, Yanfeng - In: China Accounting and Finance Review 26 (2024) 1, pp. 102-133
Purpose Independent directors are important corporate decision participants and makers. Based on the Chinese cultural … background, this paper interprets the listing order of independent directors as independent directors' status, exploring their …-stage instrumental variable method, and Heckman two-stage method. Findings (1) Higher independent directors' status attribute to more …