Purpose: The authors analyze the effects of controlling shareholders' stock pledging on firms' strategic change behavior, and investigate how the balance of power between shareholders and analyst coverage moderates those effects. Design/methodology/approach: Employing fixed effects models, the...

Purpose: The authors aim to discuss the impact of research and development (R&D) internationalization on emerging market enterprises' (EMNEs') innovation efficiency, as well as the moderating effects of top management team (TMT) human capital. Design/methodology/approach: The authors...