The rapid growth of local SOEs in China largely depends on high leverage, thus local governments and their SOEs will face harder budget constraints when the central bank implements tight credit policies. Using a sample of listed local SOEs in the Chinese A-share market, this paper attempts to...

The deep integration of digital technology with the real economy has reconstructed production systems. We explore the impact of digital technology on the resource allocation behavior and efficiency of manufacturing enterprises. Using a sample of Chinese A-share listed manufacturing firms over...

In modern organizations a large portion of senior management's time is now being spent on finding ways to measure the contribution of their organizations IS/IT investments to business performance. It has been shown that IS/IT investments in many organizations are huge and increasing rapidly...

What makes independent directors perform their monitoring duty? One possible reason is that they are concerned about being sanctioned by regulators if they do not monitor sufficiently well. Using unique features of the Chinese financial market, we estimate the extent to which independent...

Do antitrust laws influence corporate valuations? We evaluate the relationship between firm value and laws limiting firms from engaging in anticompetitive agreements, abusing dominant positions, and conducting M&As that restrict competition. Using firm-level data from 99 countries over the...