China's split-share reform of 2005 (the Reform) converts the previously restricted shares held by founding shareholders to shares tradable on the open market. Against this backdrop, we study how underwriter-affiliated analysts and firms' large shareholders interact in the event of the latter's...

We examine the impact of family-based human capital stemming from a chairperson’s having siblings vis-à-vis not having siblings on corporate innovation in Chinese family firms. Using hand-collected data, we document that when a firm has a sibling-chairperson, it holds more patents, receives...

We examine the impact of a chairperson having siblings on the corporate social responsibility (CSR) of a firm. The findings suggest that when a firm has a siblings-chairperson, the firm has a better CSR rating than a firm with a chairperson having no siblings. The conclusions are robust to a...

Using a sample of 1486 Chinese A-share listed companies for the period 2004–2008, this study empirically tests the impact of family control, institutional environment and their interaction on the cash dividend policy of listed companies. Our results indicate that (1) family firms have a lower...

Using a sample of 1486 Chinese A-share listed companies for the period 2004-2008, this study empirically tests the impact of family control, institutional environment and their interaction on the cash dividend policy of listed companies. Our results indicate that (1) family firms have a lower...