Purpose: This study aims to examine the relationship between board capital and firm performance in the Chinese tourism industry. Design/methodology/approach: The study’s sample includes firms from the Chinese hotel, air transportation/travel and catering industries. This study explores the...

Purpose: The purpose of this paper is to investigate how corporate cash holdings changes across firm life cycle and how firms undergo heterogeneous dynamic cash adjustment as they advance from one stage to the next stage. Design/methodology/approach: This study uses an extensive data set of...