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This study investigates the relationship between the environmental strategy of state-owned enterprises (hereafter SOEs) and executive promotion in China. We partition a firm’s environmental strategy into Wordy and Nonwordy , and its environmental action into Feasance and Nonfeasance . We...
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This paper uses FAS 123R regulation to examine how reduction in CEO compensation incentives affects managerial 'playing-it-safe' behavior. Using proxies reflecting deliberate managerial efforts to change firm risk, difference-in-difference tests show that affected firms drastically reduce both...
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