Hu, Nan; Xue, Xingnan; Liu, Ling - 2021
In this study, we investigate whether the unpleasant mood of managers caused by air pollution leads to poorer decision-making quality. Using a sample of 9,282 firm-year observations from 2014 to 2017 in China, we show that 1) the mood of managers becomes more negative as air quality decreases;...