Huo, Zheng; Zhang, Junsheng; Huang, Mingming - In: China journal of accounting studies 9 (2020) 1, pp. 54-80
The paper examines the motivation and consequences of Golden Parachute (GP) contracts in the context of TBEA, a Chinese company whose GP payment was 1,000 times executive annual salary and which rescinded its GP provision in 2019. We find that for TBEA, whose ownership is dispersed,...
