Purpose: This study aims to examine whether the disclosure tone in earnings announcements is related to a firm’s corporate social responsibility (CSR) performance. Design/methodology/approach: Considering the lower likelihood of earnings management conducted by CSR-conscious firms, and the...

Our study examines the influence of institutional investors on firm investment efficiency based on the non-financial firms listed on Chinese stock exchanges over the period of 2009–2014. Our results show that institutional ownership generally improves firm investment efficiency. However, after...