Wang, Yu; Chang, Xiaoying; Wang, Shanshan - In: Cogent Business & Management 9 (2022) 1, pp. 1-15
The purpose of this study is to deepen our understanding of government directors' impact on firm performance. This … study strives to answer whether government directors have different effects on accounting- and market-based performance. To … correct for the endogeneity of government directors caused by self-selection bias, Heckman two-stage model was employed in …