Building on the short-term nature of interim CEO contracts, this paper examines the effect of interim CEO appointment on corporate long-term investment measured by a firm's R&D spending. We find robust evidence that the corporate R&D investment level is significantly lower during the interim CEO...

Using the degree of a son-preference culture (SPC) in an area as a measure of local firms’ nontokenism motives to appoint female directors, this paper examines how the value impact of women’s representation on boards (WROB) varies across different motives of female director appointments in...