This paper elaborates whether women bringing their diversity, cross-cultural awareness and transformational leadership skills to corporate boards offer strategic advantages for firms. In the analysis the effect of women in the board room on innovation activity and corporate firm performance as...

Using a large sample of Chinese firms, we examine performance differences between firms with female and male chairs and the channels through which such differences arise. After controlling for the presence of female CEOs and non-chair female directors, we find that chairwoman firms perform...

This study investigates how CEO power is associated with stock price crash risk. We further examine the moderating roles of female directors’ critical mass and ownership structure on the relationship between CEO power and stock price crash risk. Employing one of the largest datasets to-date of...

Board governance is an important aspect of internal bank governance. We conduct an empirical study on 100 banks in China for the period from 2004 to 2017 using a time-varying growth bank shareholder network to investigate the relationship and mechanism between bank shareholder network and board...

Understanding the value of political connections is important for firm decision-making and for social efficiency analysis. I examine this question by estimating the effect of having a politician on the board of directors on a firm's stock price. A new policy in China (Regulation No.18) forced...

This study examines the impact of board directors with foreign experience (BDFEs) on stock price crash risk. We find that BDFEs help reduce crash risk. This association is robust to a series of robustness checks, including firm fixed effects model, Heckman procedure, instrumental variable...

We provide the first comprehensive and robust evidence on the relationship between board independence and firm performance in China. We find that independent directors have an overall positive effect on firm operating performance in China. Our findings are robust to a battery of tests, including...

Chinese listed firms recruit independent directors in order to build up connections with people who can provide useful sources and/or protection rather than for their monitoring of top managements. It is found that Chinese listed firms particularly prefer two types of Guanxi provided by...

This article empirically investigates the impacts of the board’s rejection of shareholder proposals on corporate value and the appropriate approach to regulation. Using a hand-collected dataset on shareholder-proposal-rejection incidents in China, I find that a rejection decision would on...