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This study examines the role of the anti-corruption campaign in capital structure decisions for Chinese listed firms using investigation of senior officials from 2007 to 2019. We find a positive effect of the anti-corruption campaign on the firm’s leverage adjustment speed, consistent with the...
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We examine the role of political uncertainty in executive compensation for Chinese listed firms from 2005 to 2018. Using detailed disclosure of turnover of chief officials at the municipal level, we find that political uncertainty reduces executive compensation-performance sensitivity. The...
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