Purpose: This study examines whether co-opted directors influence analysts' recommendations. As information intermediaries, financial analysts should incorporate the quality of corporate governance into their valuation because well-governed firms are associated with lower agency costs and better...

Although the role of managers is crucial in shaping firm innovation, it also poses a dilemma. Because innovation is a complicated and long-term process that requires effort and attention, managers may reduce effort in innovation when faced with high takeover threat. This study examines the...

In times of crisis, corporate governance, particularly the gender equality aspect, is critically important. Motivated by the phrase ‘gender equality today for a sustainable tomorrow’, we investigate how board gender diversity affects asset redeployability, which is a key element in the...

We relax Modigliani and Miller’s (1961) assumption of perfect capital markets for dividends by introducing a market imperfection that has not been investigated before, i.e., the economic uncertainty caused by infectious diseases. We exploit a unique text-based measure of infectious diseases...