Abstract Manuscript Type Empirical Research Question/Issue Past empirical efforts in corporate governance have examined the effects of large shareholders with excess control rights on tunneling activities. However, no study has systematically investigated multiple leverage policies and an emerging country environment where minority protection is weak. In this study, we examine role contestability firm decision by controlling shareholders. Findings/Insights Using a sample 2,341 Chinese firms...

People often forget and sometimes fantasize. This paper reports a large-scale experiment on memory errors their relation to preferential traits including time preference, attitudes toward risk ambiguity, psychological characteristics such as anticipatory feelings. We observe systematic incidences of false in favor positive events amnesia forgetting past negative events. Both delusion confabulation significantly relate present bias, but this is not the case for amnesia. In an intraperson,...

Prior work examining the antecedents of capital structure for small and medium-sized enterprises in emerging markets is limited. This paper sheds light on how corporate governance mechanisms adopted by firms newly established Growth Enterprise Market (GEM) China influence their use debt. We find that financial leverage GEM positively influenced executives' shareholding excess cash compensation. Ownership concentration appears to reduce leverage, whereas percentage tradable shares increases...

Purpose The purpose of this paper is to investigate the influence state shareholding and control versus institutional investors on tax aggressiveness Chinese listed firms. Design/methodology/approach By exploring recently available reconciliation data required under 2006 Accounting Standards for Business Enterprises a sample A-share firms, authors calculate direct measure firm ownership structure their aggressiveness. Findings find that are positively associated with corporate A positive...

We show that superstitions—beliefs without scientific grounding—impact the investment and risk-taking of Chinese firms. focus on widely held beliefs in bad luck during one’s “zodiac year,” which occurs a 12-year cycle around person’s birth year, to study superstitions risk taking. first direct correspondence between zodiac year taking via survey data: respondents are two percentage points more likely favor no-risk investments if queried their year. Turning corporate decision making, we find...

Purpose This study aims to explore the spatio-temporal dynamic characteristics and influencing factors of coordination degree three systems digital economy, energy human habitat in Western China provide academic research support for promoting coordinated sustainable development similar regions world. Design/methodology/approach Based on system theory theory, this primarily uses coupled model assess between systems. Findings The findings indicate that: systems’ overall is low. distribution...

The global aging population is growing rapidly, and due to its large population, China expected become a ‘super-aged society’ within the next decade. Therefore, ensuring that older people can ‘age in place’ has major national priority. Community-care facilities (CCFs) play key role this process, but their service performance often faces challenges, with high input costs limited output benefits. This paper aims evaluate improve social economic of CCFs by proposing comprehensive framework...

This study investigated how belief in a just world (BJW) influences prosocial behavior tendency (PBT) through psychological resilience (PR), and examined empathic capacity (EC) moderates this mediation process. Data were collected from 955 Chinese university students (Mage = 19.5 years, SD 1.3; 65.6% female) using validated scales measuring BJW, PBT, PR, EC. Three key findings emerged: (1) BJW positively predicted PBT both directly (β 0.301, p < 0.001) indirectly PR; (2) EC moderated the...

This study examines the determinants of bank performance based on proxy variables that assess quality assets, profitability, liquidity and overall performance. Using a sample 111 Chinese commercial banks over period 2000–2012, we find foreign appear to have better asset although lower profitability compared domestic banks. In contrast, state-owned tend be more profitable position with other At level, equity/liability ratio exerts significant influence performance, while at macroeconomic per...

The adverse impact of haze on health and its association with a range economic outcomes have received increasing attention in the literature. A natural laboratory experiment involving more than 600 subjects enables first attempt at investigating causal effect haze, proxied by particulate matter up to 2.5 microns diameter (PM2.5) decision making. This study was conducted Beijing October 2012 over five days highly varying levels PM2.5, which only became commonly known China 2013. We observed...

The sunk cost effect has been widely observed in individual decisions. Building on an intrapersonal self-management game, the paper theoretically shows that may stem from at...

Building external collaboration networks is key to the sustainable innovation performance of strategic emerging industries (SEIs) in context open innovation. R&amp;D subsidy policies China are typically designed support investment, though question remains whether this policy tool can stimulate by building collaborative for enterprises. At present, few studies discuss behavioral additionality subsidies economies, and relevant mainly conducted from single perspective input additionality. This...

Abstract We demonstrate that, in China, firm investment efficiency gains are associated with the use of short‐term debt, especially its trade credit component. During 2009–2010 economic stimulus plan, such effects were heightened and generally remained persistent 2011–2013 poststimulus period. Our findings support view that rollover pressure short‐maturity debt information advantage supply chain financing both effective mechanisms for enhancing governance an environment more susceptible to...