The paper investigates the link between the information content of independent directors' reports (IDRs) and firm financial outcomes. By conducting sentiment analysis of 23,984 IDRs of the Chinese listed companies from 2004-2012, we find that the positive tone of IDRs is likely to signal an...

This study introduces a new dimension, age diversity of non-CEO executives, which moderates the relationship between promotion-based tournament incentives, measured as the pay gap between the CEO and non-CEO executives, and firm performance. For a sample of Chinese listed firms from 2005 to...

Purpose - The purpose of this paper is to summarise and reflect upon key issues at the interface of prices, information and regulation with a focus upon the stock market in context. Reflecting upon academic research in the area of efficient markets, and regulatory policy, the concern is to...