In this paper we investigate whether inefficient bank loans can reduce the value of borrowing firms when expropriation of the stock of minority shareholders by controlling shareholders is a major concern. Using data from Chinese banks, we find that bank loan announcements generate significantly...

This article examines whether the effect of hierarchical pay structures on firm value is different between the firms in which the CEO is not the highest paid member of the top management team and those in which the CEO receives the highest pay. We find that the difference in pay between CEO and...

Purpose: With features of both “family” and “business,” family businesses must seek a balance between the emotional aspect of “family” and the economic aspect of “business” in its organizational and decision-making processes to ensure the sustainability of the family’s...

This paper explores the types of family involvement in family firms and their impact on innovation performance. Drawing from our agency theoretical analysis on the structure of boards of directors and management teams and along with the resource-based view, we advance the novel proposition that...

This paper applies pattern matching technique to multi-step prediction of crude oil prices and proposes a new approach: generalized pattern matching based on genetic algorithm (GPMGA), which can be used to forecast future crude oil price based on historical observations. This approach can detect...