This study aims to investigate whether qualified foreign institutional investors (QFIIs) improve companies' internal control quality to mitigate information asymmetry. By analysing a sample of 22,310 firm-year observations from Chinese listed companies between 2005 and 2017, we found that...

We examine the effect of Top Management Team (TMT) professional finance experience on firm investment efficiency. Top managers with a career background in finance help reduce deviations of investment from the level warranted by firm fundamentals. Reductions in investment inefficiencies are...

This study examines the impact of promotion-based tournament incentives on corporate labor investment efficiency. We find that tournament incentives, measured as the pay gap between the CEO and the next layer of non-CEO senior executives, lead to inefficient labor investments, measured as the...

We investigate how social capital, captured by the strength of cooperative norms and social networks within a geographical community, affects the internal organization of boards. We find that firms headquartered in high-social-capital communities have a more advisory-focused internal board...

This study examines the impact of promotion-based tournament incentives on corporate labor investment efficiency. We find that tournament incentives, measured as the pay gap between the CEO and the next layer of non-CEO senior executives, lead to inefficient labor investments, measured as the...