This study addresses the issue of sustainability reporting by corporations, and the framework(s) and guidelines used in the preparation of those annual reports. It takes as its starting point the UN Sustainable Development Goal 12: "Ensure sustainable consumption and production patterns", with...

Directors and officers liability insurance (D&O insurance) has gradually emerged as a vital component of external governance mechanism, allowing the appropriate transfer of decision-making risks to insurance companies. While D&O insurance can serve as an incentive for directors to actively...

This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based on Fortune Global 500 rankings), and...

In emerging markets, the deviation between the ultimate controlling shareholders' voting rights and their cash flow rights (hereafter “DVC”) in the listed firms is quite prevalent. DVC could be introduced due to the ultimate controlling shareholders' opportunistic incentives, as well as by...

Based on behavioral finance theory, we discuss the influence of managers' herd behavior on corporate financialization from the perspective of managers' behavioral preferences. Empirical testing was conducted using data from nonfinancial listed firms on the Shanghai and Shenzhen A-shares from...

This paper examines the effects of the pyramid inner ownership structure of companies on capital structure in an emerging market economy country. The author uses firm-level panel data of Chinese listed companies to analyze the effects of the inner structure of pyramid on capital structure, and...